Business, 02.03.2020 21:09, dondre54

Because Gene Co. uses different methods to depreciate buildings for financial statement and income tax purposes, Gene has temporary differences that will reverse during the next year and reduce taxable income. Deferred income taxes that are based on these temporary differences should be classified in Gene’s balance sheet as a:Multiple Choice
a. Noncurrent liability.
b. Current liability.
c. Noncurrent asset.
d. Current asset.

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Because Gene Co. uses different methods to depreciate buildings for financial statement and income t...