—、单项选择题(本题型共5小题，每小题20分，每小题只有一个正确答案，请从每小题的备选答案中选出一个你认为最正确的答案，在答题卡相应位置上用2B铅笔填涂相应的答案代码，答案写在试题卷上无效)

A. A deferred tax liability of $32,000.

B. A deferred tax asset of $32,000.

C. There is no effect on deferred tax items from this transaction.

A. must be reduced by a valuation allowance.

B. should be considered an asset or liability.

C. should be considered an increase in equity.

A. A deferred tax liability is expected to result in future cash outflow.

B. Taxes payable are determined by pretax income and the tax rate.

C. Income tax paid can include payments or refunds for other years.

A. $90 million gain on income statement.

B. $90 million revaluation surplus.

C. $80 million gain on income statement and a $10 million revaluation surplus.

A. amortized over their actual lives.

B. not amortized, but are tested for impairment at least annually.

C. amortized over their expected useful lives.Answer：

Oliver has paid tax on the $80,000 revenue in 20X8, but has not recorded the revenue on it for financial statement purposes. This results in a temporary difference of $32,000, which is a deferred tax asset. The tax asset will be realized when the company recognizes the revenue on its financial statements in the subsequent period

If deferred tax liabilities are expected to reverse in the future, then they should be classified as liabilities. If, however, they are not expected to reverse in the future, then they should be classified as equity.

Taxes payable are the taxes due to the government and are determined by taxable income and the tax rate. Note that pretax income is income before tax expense and is used for financial reporting. Taxable income is the income based upon IRS rules that determines taxes due and is used for tax reporting.

Under IFRS, firms may choose to report long-lived assets at fair value. Upward revaluations are permitted and will result in a gain recognized on the income statement to the extent it reverses a previously recognized loss. Any excess is reported as a revaluation surplus, a direct adjustment to equity. In this case, the carrying value of the assets is $600 million ($750 million original cost less $70 million accumulated depreciation and less $80 million impairment loss). The fair value is $690 million. Of the $90 million excess of fair value over carrying value, $80 million is recognized as a gain on the income statement to reverse the $80 million impairment loss that was previously recognized. The remaining $10 million is recorded as a revaluation surplus in shareholders' equity.

Intangible assets with finite lives are amortized over their expected useful lives, which is an estimate. Actual lives of intangible assets are often not known in advance. Intangible assets with infinite lives are not amortized, but are tested for impairment at least annually.