what are the main objectives of the deferred tax asset approach?

Q: Will the existence of unused tax losses always lead to the recognition of a deferred tax assets?…

A: Deferred tax assets arising from the deductible temporary difference because of different treatment…

Q: What are the advantages of an indirect tax such as the VAT compared with an income tax?

A: The objective of this question is to understand the advantages of an indirect tax, specifically…

Q: The value of property for tax purposes, usually a percentage of the fair market value is known as…

A: Appraisal value refers to that on a specific date, the specific property’s current market value is…

Q: How do tax laws affect leasing?

A: Lease:   It is an agreement between two parties where the one party agrees to rent an asset owned by…

Q: How important are taxes in the decision to sell a property?

A: Taxes: The compulsory financial charge or any other kind of levy that is forced on the payers of tax…

Q: What are the distinctions between deferred tax assets and deferred tax liabilities?

A:

Q: final tax and income tax

A: Tax is a form of compulsory payment made to the government of the country. The amount that is…

Q: what types of taxes are deductible in full or in part?

A: The tax-deductible expense helps the business to generate revenue by decreasing the tax liability.

Q: What is a Capital Gain Tax (CGT) Asset? Give at least one example for each of the three types of…

A: Capital gain tax asset is an asset which when sold, the gain will attract capital gain tax.  As per…

Q: Briefly explain how tax loss carryback and carryforward procedureswork.

A: Loss carryback is a situation in which business is having operating loss in this year and it want to…

Q: What is deferred income tax expense?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: between refundable tax credits and non-refundable tax credits and which is more valuable

A: The amount of money that is allowed to be reduced from overall tax liability of taxpayer is known as…