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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Orleans Co., a cash basis taxpayer, prepares accrual basis financial statements. In its Year 2 balance sheet, Orleans' deferred income tax liabilities increased compared to Year 1. Which of the following changes would cause this increase in deferred income tax liabilities?
I. An increase in prepaid insurance.
II. An increase in rent receivable.
III. An increase in warranty obligations.
a- I only.
b- I and II.
c-II and III.
d- III only.
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