Tax Flashcards

1
Q

Temporary differences are differences between

A

the carrying amount of an asset or liability in the statement of financial position and its tax base

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The difference between the carrying amount of a revalued asset and its tax base is an example of a

A

temporary difference and will give rise to a deferred tax liability or asset, which will be taken to the revaluation surplus (via other comprehensive income)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q
A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly