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Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG?   Select one:   A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed   B. An agricultural charge of RM30,000 arises from the disposal.   C. The agricultural charge must be raised in YA 2020.   D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred

Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG?   Select one:   A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed   B. An agricultural charge of RM30,000 arises from the disposal.   C. The agricultural charge must be raised in YA 2020.   D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Encik Johan incurred qualifying agriculture expenditure of RM30,000 on the construction of a road on 15 September 2019 for the year ended 31 December 2019. The farm was disposed on 15 May 2020. Which statement is WRONG?

 

Select one:

 

A. Encik Johan can spread back the agricultural charge in the years assessment when the allowances are claimed

 

B. An agricultural charge of RM30,000 arises from the disposal.

 

C. The agricultural charge must be raised in YA 2020.

 

D. There is no agricultural charge if disposal is performed after 5 years from the date the qualifying expenditure is incurred

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