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Which is an example of a change in reporting entity

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Reference no: EM132704864

Problem 1: Which of the following differences between financial accounting and tax accounting ordinarily creates a deferred tax liability?

Multiple Choice

Option 1: All of these answer choices are correct.

Option 2: Accrual of estimated operating expenses.

Option 3: Prepaid operating expenses, currently deductible.

Option 4: Subscriptions collected in advance.

Problem 2: Which of the following is an example of a change in reporting entity?

Multiple Choice

Option 1: A change in the actuarial life expectancies of employees under a pension plan.

Option 2: A change in inventory costing methods.

Option 3: Consolidating a new subsidiary.

Option 4: A change in the estimated useful life of a depreciable asset.

Reference no: EM132704864

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