Tax expense

The deferred tax expense is the A. decrease in balance of deferred tax asset minus the increase in balance of deferred tax liability. B. increase in balance of deferred tax asset minus the increase in balance of deferred tax liability. C. increase in balance of deferred tax liability minus the increase in balance of deferred tax asset. D. increase in balance of deferred tax asset plus the increase in balance of deferred tax liability. Solution:1.Deferred tax expense isAns: Decrease in balance of deferred tax asset minus the increase inbalance of deferred tax liability2. On December 31, 2008 Kean Company changed its method…