Hi all. I need help for the question 19 in the CFAI EOC questions.
Question 19: What exactly is the “provision for income tax”? I think I am just unfamiliar with the phrasing here. Is it Tax payable? DTL? Tax Expense?
The explanation to this question stated that the net DTL was smaller in 2007 than 2006. But the net DTL does not refer to “provision for income tax” or does it? Why was net DTL used as an explanation to the question?
Thanks in advance!