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external reporting

Navas 27 April 2020 at 13:22 PM

Harrison Corporation entered into a three-year contract, using the percentage-of-completion (Over Time) methodfor financial income and the completed contract method for taxable income. The effect on Harrison's financial statements for the third year of this contract would be a(n) 
A) increase in the Deferred Tax Asset account.
B) increase in the Deferred Tax Liability account
C) decrease in the Deferred Tax Liability account.
D) decrease in the Deferred Tax Asset account.

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FACULTY 18 May 2020 at 06:11 PM

decrease in the Deferred Tax Liability account.(option C)

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Susan Sunu Kurian 18 July 2020 at 10:48 AM

can the journal entry be described 

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