DEFERRED TAX LIABILITIES Definition

Bookmark and Share

DEFERRED TAX LIABILITIES have an effect of increasing future years income tax payments, which indicates that they are accrued income taxes and meet definition of liabilities. Whereas deferred tax assets have an effect of decreasing future income tax payments, which indicates that they are prepaid income taxes and meet definition of assets.

Learn new Accounting Terms

DOCTRINE is a. something that is taught; b. a principle or position or the body of principles in a branch of knowledge or system of beliefs; c. a principle of law established through past decisions; d. a statement of fundamental government policy especially in international relations.

SOFT CREDIT see ASSOCIATED CREDIT.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.