SOFE Exam SOFA-CFE Topic 2 Question 78 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 78
Topic #: 2

[All SOFA-CFE Questions]

Which of the following is NOT the step in determining deferred tax assets and liabilities?

AIdentification

BMeasurement

CReduction

DValuation

Show Suggested Answer

Suggested Answer: A

by Earleen at Dec 09, 2023, 04:58 AM

Limited Time Offer

25%

Off

Get Premium SOFA-CFE Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Javier

1 months ago

Wait, there's a 'Reduction' step? Does that mean I can just make my deferred taxes go away? Sign me up!

upvoted 0 times

...

Iluminada

1 months ago

I'm going with B) Measurement. Identifying and valuing the deferred tax items is the real work, not this mysterious 'reduction' step.

upvoted 0 times

Lavonne

8 days ago

I think it's C) Reduction. That doesn't sound like a step in determining deferred tax assets and liabilities.

upvoted 0 times

...

Ezekiel

1 months ago

I think the answer is C) Reduction. I mean, who would want to reduce their deferred tax assets and liabilities? That's just crazy talk!

upvoted 0 times

Macy

15 days ago

A) Identification

upvoted 0 times

...

Hildred

2 months ago

Hmm, this one's tricky. I'm leaning towards D) Valuation, since that seems more like a separate process rather than a step.

upvoted 0 times

Johanna

13 days ago

So, we can eliminate D) Valuation as a step in determining deferred tax assets and liabilities.

upvoted 0 times

...

Alease

16 days ago

Yeah, I agree. It doesn't really fit in with the other steps.

upvoted 0 times

...

Eladia

1 months ago

I think you're right, D) Valuation does seem like a separate process.

upvoted 0 times

...

Lashawn

2 months ago

You might be right, we do need to measure and identify them first before reducing them.

upvoted 0 times

...

Twanna

2 months ago

No, I believe it's D) Valuation because we need to value the assets and liabilities accurately.

upvoted 0 times

...

Lashawn

2 months ago

I think the answer is C) Reduction.

upvoted 0 times

...

Leonida

2 months ago

I'm not sure, but I think C) Reduction could also be a possible answer.

upvoted 0 times

...

Kimbery

2 months ago

I'm pretty sure the answer is C) Reduction. That's not a step in determining deferred tax assets and liabilities.

upvoted 0 times

Marshall

25 days ago

Yeah, I agree. The correct steps are Identification, Measurement, and Valuation.

upvoted 0 times

...

Art

27 days ago

I think you're right, C) Reduction doesn't seem like a step in determining deferred tax assets and liabilities.

upvoted 0 times

...

Josue

29 days ago

Yeah, I agree. The correct steps are Identification, Measurement, and Valuation.

upvoted 0 times

...

Deane

1 months ago

I think you're right, C) Reduction doesn't seem like a step in determining deferred tax assets and liabilities.

upvoted 0 times

...

Shalon

2 months ago

I agree with Adria, because valuation is not a step in determining deferred tax assets and liabilities.

upvoted 0 times

...

Adria

2 months ago

I think the answer is D) Valuation.

upvoted 0 times

...