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What is a deferred tax asset and why might one be created?
in Accounting by Gold Status (12,919 points) | 13 views

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Deferred tax asset arises when a company actually pays more in taxes to the IRS than they show as an expense on their income statement in a reporting period.

  • Differences in revenue recognition, expense recognition (such as warranty expense), and net operating losses (NOLs) can create deferred tax assets.
by Gold Status (12,919 points)

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