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Which of the following is NOT the step in determining deferred tax assets and liabilities?
Suggested Answer: A
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47 comments · newest first
FR
Freeman
10 months ago
Yeah, I’m with you on that one!
LE
Levi
11 months ago
Wait, is Reduction even a thing in this context?
CH
Christa
11 months ago
A is the first step, right?
BO
Bonita
11 months ago
I thought it was Valuation?
SH
Shawana
11 months ago
Definitely not Reduction!
MA
Mari
12 months ago
I recall that identification and measurement are key steps, but I can't quite remember if reduction is a standard term used in this context.
DE
Desmond
12 months ago
I’m a bit confused. I thought all four options were related to deferred taxes, but reduction doesn’t sound right to me.
JA
Janet
12 months ago
I remember practicing a question similar to this, and I think valuation is definitely a step. Reduction feels like it might not fit.
FA
Fabiola
1 year ago
I think the steps usually include identification and measurement, but I'm not sure about reduction. That one seems off.
CH
Chuck
1 year ago
Reduction doesn't sound like a typical step in the deferred tax process. I think the correct answer is C, but I'll double-check my understanding to be sure.
HO
Hortencia
1 year ago
I'm a little confused on this question. I know the general process for deferred taxes, but I'm not sure which specific step is not included. I'll have to review my notes and try to eliminate the options.
AL
Aliza
1 year ago
I'm pretty confident I know the answer to this one. Reduction is not a step in determining deferred tax assets and liabilities. The key steps are identification, measurement, and valuation.
SK
Skye
1 year ago
Okay, let me think this through. Identification, measurement, and valuation all sound like they could be steps, but I'm not sure about reduction. I'll have to weigh the options carefully.
CH
Cheryll
1 year ago
Hmm, this is a tricky one. I'll need to carefully review the steps for determining deferred tax assets and liabilities to figure out which one is not a step.
AU
Audra
1 year ago
Hmm, I'm a bit confused by this question. I'm not sure which activity would be the best to use in this situation. I'll have to think it through carefully.
AM
Amie
1 year ago
Okay, I remember learning about groups in the web client. I believe it has to do with organizing users and computers, but I'm not totally confident on the exact definition. I'll read through the options closely and see if I can figure this out.
NO
Nobuko
1 year ago
I think the key here is to check if the account is being used anywhere in the system. If it's not being used, then it should be able to be deleted.
DE
Derick
1 year ago
Option C sounds plausible - the if-then rules can modify the result multiple times before the final outcome is set. I'll have to think about that one.
MI
Minna
1 year ago
I vaguely recall someone mentioning crowd-sourcing testing in a practice question. It feels like a unique approach to get real-user data.
JA
Javier
1 year ago
Wait, there's a 'Reduction' step? Does that mean I can just make my deferred taxes go away? Sign me up!
IL
Iluminada
1 year ago
I'm going with B) Measurement. Identifying and valuing the deferred tax items is the real work, not this mysterious 'reduction' step.
LI
Ligia
1 year ago
Well, I guess we all have different opinions on this. It's interesting to see how we interpret the steps differently.
LU
Luz
1 year ago
I see your point, but I still think B) Measurement is the odd one out. It just doesn't seem as crucial as the other steps.
PA
Paris
1 year ago
I agree, reduction doesn't seem to fit. I would go with D) Valuation as the step that is not part of the process.
LA
Lavonne
1 year ago
I think it's C) Reduction. That doesn't sound like a step in determining deferred tax assets and liabilities.
EZ
Ezekiel
1 year ago
I think the answer is C) Reduction. I mean, who would want to reduce their deferred tax assets and liabilities? That's just crazy talk!
GE
Gennie
1 year ago
Yeah, I think the answer is C) Reduction. It just doesn't fit with the other steps.
CA
Callie
1 year ago
I agree, reducing deferred tax assets and liabilities doesn't make sense.
MA
Marge
1 year ago
D) Valuation
TH
Thomasena
1 year ago
C) Reduction
BE
Belen
1 year ago
B) Measurement
MA
Macy
1 year ago
A) Identification
HI
Hildred
1 year ago
Hmm, this one's tricky. I'm leaning towards D) Valuation, since that seems more like a separate process rather than a step.
JO
Johanna
1 year ago
So, we can eliminate D) Valuation as a step in determining deferred tax assets and liabilities.
AL
Alease
1 year ago
Yeah, I agree. It doesn't really fit in with the other steps.
EL
Eladia
1 year ago
I think you're right, D) Valuation does seem like a separate process.
LA
Lashawn
1 year ago
You might be right, we do need to measure and identify them first before reducing them.
TW
Twanna
1 year ago
No, I believe it's D) Valuation because we need to value the assets and liabilities accurately.
LA
Lashawn
1 year ago
I think the answer is C) Reduction.
LE
Leonida
1 year ago
I'm not sure, but I think C) Reduction could also be a possible answer.
KI
Kimbery
1 year ago
I'm pretty sure the answer is C) Reduction. That's not a step in determining deferred tax assets and liabilities.
MA
Marshall
1 year ago
Yeah, I agree. The correct steps are Identification, Measurement, and Valuation.
AR
Art
1 year ago
I think you're right, C) Reduction doesn't seem like a step in determining deferred tax assets and liabilities.
JO
Josue
1 year ago
Yeah, I agree. The correct steps are Identification, Measurement, and Valuation.
DE
Deane
1 year ago
I think you're right, C) Reduction doesn't seem like a step in determining deferred tax assets and liabilities.
SH
Shalon
2 years ago
I agree with Adria, because valuation is not a step in determining deferred tax assets and liabilities.
AD
Adria
2 years ago
I think the answer is D) Valuation.