Which of the following circumstances does not give rise to a taxable temporary difference? O The taxation depreciation rate is greater than the accounting rate. Income is deferred in the statement of financial position but has already been included in taxable profit in current or prior periods. Interest revenue is received in arrears and is included in accounting profit on a time-apportionment basis but is included in taxable profit on a cash basis. Revenue from the sale of goods is included in accounting profit when goods are delivered but is included in taxable profits only when cash is collected.

Which of the following circumstances does not give rise to a taxable temporary difference? O The taxation depreciation rate is greater than the accounting rate. Income is deferred in the statement of financial position but has already been included in taxable profit in current or prior periods. Interest revenue is received in arrears and is included in accounting profit on a time-apportionment basis but is included in taxable profit on a cash basis. Revenue from the sale of goods is included in accounting profit when goods are delivered but is included in taxable profits only when cash is collected.

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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