Which of the following creates a taxable temporary- difference?

Q: Sometimes a temporary difference will produce future deductible amounts. Explain what is meant by…

A: The future deductible amount caused by temporary difference means that the taxable income can be…

Q: Which of the following is reported in profit or loss in accordance with PAS 1? I.      Sales revenue…

A: PAS 1: Presentation of financial statement prescribes the basis of presentation of general purpose…

Q: For assets acquired on credit or by installment, the cost or fair value is equal to:  A. cash…

A: The fixed assets are the assets acquired by the business to use for long run.

Q: Which of the following is an accrued liability? * Unearned subscriptions revenue Current portion of…

A: Liabilities that are recorded in the balance sheet are of two types they are -  Current liabilities.…

Q: In computing the ending balance of defined benefit obligation, which of the following is deducted…

A: Defined benefit obligation is the present value of future pension liabilities of a company which it…

Q: Given the following 1. Gross Premium 2. Commission 3. Claims 4. Outstanding Claims and 5. Incurred…

A: Accounting - The process of keeping track of all financial transactions pertaining to a business is…

Q: Which of the following temporary differences results in a deferred tax asset in the year the…

A:

Q: Typically, the estimated amount available for short-term payments in a statement of affairs…

A: Statement of accounts: It is the periodic statements summarizing all the account activity of the…

Q: Explain how the following transactions result in taxable /deductible temporarydifference:a. Interest…

A: The objective of this question is to understand how certain transactions can result in taxable or…

Q: Which of the following items represents a deferral?A. Prepaid insuranceB. Wages payableC. Fees…

A: In accounting, deferral means to defer or delay recognizing certain revenues or expenses…

Q: hen assets that have been sold and accounted for by the installment method are subsequently…

A: Inventory is the current asset posted on the balance sheet of the company.

Q: Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c.…

A: Presentation of Financial Statements PAS 1 describes the basis for presenting the general purpose…

Q: Accounts payable is a Select one: A. current liability B. current asset C. long-term liability D.…

A: Accounts payable are short term obligation which should be paid to the vendors or suppliers for the…

Q: installment sale, revenue is recognized: a. at the point of sale b. after the point of sale c.…

A: In the concept of accrual revenue earned is recognised in the books of accounts only when cash is…

Q: Rent collected in advance shall be taxable when earned.

A: Meaning of Rent Received in Advance Rent Received in Advance is the amount of rent which is received…

Q: How do defreinciate between a accured income and prepaid income

A: Introduction: Accruals: Transactions recorded in the books but not yet received or paid cash called…

Q: Which of the following items is generally a Schedule M-1 adjustment? a.Rent payments b.Gross sales…

A: An essential part of a company's tax return is the Schedule M-1 Adjustment. It is used to reconcile…

Q: Which accounting principle guides the application of the installment method for reporting income? a…

A: Lets understand the basics.Matching principle says that expense should be recorded in the period in…

Q: Computation and Calculation on how they get  - Interest Received  - Interest Income - Discount…

A: Bond Amortization - It is a principal paid regularly, along with its interest expenses over the life…

Q: types of payments that are taxable/not taxable for FUTA?

A: Federal unemployment tax is a tax paid by the employers to the employees who have left the company…

Q: Explain payables deferral period (PDP)

A: Payable deferral period (PDP) is a period or number of days that firms take to pay their creditors…

Q: Which one of the following expenses is exempt from the payment of GST?

A: In gst interest service is exempt so not gst needs to be paid on payment of interest.Also in gst…

Q: Question 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity.…

A: Assets means resources that the business have. It may be tangible resources or intangible resources.…

Q: TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year,…

A: Net Income: The amount of money earned by a person or corporation after subtracting expenses,…

Q: 1. All of the following are components of the defined benefit cost except *   unvested past service…

A: Solution Note Dear student as per the Q&A guideline we are required to answer the first question…

Q: Which among the following suits best for Unearned revenue? a. Liability b. Expense c. Revenue d.…

A: Unearned Revenue: Unearned Revenue means money received from the customer in advance for the service…

Q: Which of the following is not affected by a change in interest expense?   a. gross margin   b.…

A: The question is based on the concept of Financial Accounting.

Q: The alternative treatment in reporting Subscription Receivable is     a. deduction to Current Assets…

A: Subscription receivable is a revenue receivable that is an asset for the company.