Indicate the classifications of Government fund balances. Write an example for each classification.

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Off-set the losses for the appropriate years using the rules as applied in Trinidad and Tobago and those in Jamaica: XYZ Company Limited in year of assessment 2015 makes net income of $8,000,000 and its PYL was $9,000,000. XZY registered in December 2014 for GCT/VAT and declared that its estimated income for the year of assessment 2015 as $2,999,000.

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Chapter 2, Problem 9Q

To determine

Indicate the classifications of Government fund balances. Write an example for each classification.

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