Taxable profit - Tax payable, tax expense

Question 1

Accounting Profit

Answer 1

Accounting Income- Accounting expenses

Question 2

Taxable profit

Answer 2

Taxable revenues - deductible expenses

Question 3

Accrued expense
Prepaid expense
Revenue received in advance
Doubtful Debts
Goodwill Impairment

Answer 3

Accounting Profit:
Expense when accrued
Asset first, expensed when used
Liability, revenue when earned
Expense
Expense

Question 4

Accrued expense
Prepaid expense
Revenue received in advance
Doubtful Debts
Goodwill Impairment

Answer 4

Taxable Profit :
Tax deduction when cash paid
Tax deduction when cash paid
Taxed when cash received
Tax deduction when written as bad debt
Not tax deduction