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- IAS 12 – Income Taxes 0%
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Question 1 of 11
1. Question
Which of the following statements defines the term “tax expense”?
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Question 2 of 11
2. Question
What does tax expense comprise?
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Question 3 of 11
3. Question
The tax base of a liability is its carrying amount, plus any amount that will be added for tax purposes in respect of that liability in future periods.
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Question 4 of 11
4. Question
Where the tax base of an asset or liability is not immediately apparent; an entity shall, with certain limited exceptions, recognise a __________ whenever recovery/settlement of the carrying amount of an asset/liability would make future tax payments __________ than they would be if such recovery/settlement were to have no tax consequences.
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Question 5 of 11
5. Question
Current tax for current and prior periods shall, to the extent unpaid, be recognised as __________.
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Question 6 of 11
6. Question
If the amount already paid in respect of current and prior periods exceeds the amount due for those periods, the excess shall be recognised as __________.
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Question 7 of 11
7. Question
The benefit relating to a tax loss that can be carried back to recover current tax of a previous period shall be recognised as __________.
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Question 8 of 11
8. Question
When a tax loss is used to recover current tax of a previous period, an entity recognises the benefit as an asset in the period in which the tax loss occurs because it is probable that the benefit will flow to the entity and the benefit can be reliably measured.
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Question 9 of 11
9. Question
Under which circumstances will the amount of taxable economic benefits exceed the amount that will be allowed as a deduction for tax purposes?
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Question 10 of 11
10. Question
Where the carrying amount of an asset exceeds its tax base, as the entity recovers the carrying amount of the asset, the taxable temporary difference will reverse and the entity will have taxable profit.
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Question 11 of 11
11. Question
Under which of the following circumstances does deferred tax liability arise?
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