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Business, 18.03.2021 01:30 maleah12x

Tax laws permit installment sales, which are recognized in the year of sale for financial reporting purposes, to be reported in the tax return later when cash is received. This results in a deferred tax liability because taxable income is than financial income in the year of sale, and than financial income in later years when collected.

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Tax laws permit installment sales, which are recognized in the year of sale for financial reporting...
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