The tax base of a liability is its carrying amount on the statement of financial

Question

The tax base of a liability is its carrying amount on the statement of financial position

A) increased by any amount that will be deductible for tax purposes in future periods.
B) less any amount that will not be taxable in the future.
C) plus any amount that will not be taxable in the future.
D) reduced by any amount that will be deductible for tax purposes in future periods.
The tax base of a liability is its carrying amount on the statement of financial position

A) increased by any amount that will be deductible for tax purposes in future periods.
B) less any amount that will not be taxable in the future.
C) plus any amount that will not be taxable in the future.
D) reduced by any amount that will be deductible for tax purposes in future periods.
The tax base of a liability is its carrying amount on the statement of financial position

A) increased by any amount that will be deductible for tax purposes in future periods.
B) less any amount that will not be taxable in the future.
C) plus any amount that will not be taxable in the future.
D) reduced by any amount that will be deductible for tax purposes in future periods.

Explanation / Answer

Answer

The tax base of a liability is its carrying amount on the statement of financial position can be reduced by any amount that will be deductible for tax purposes in future periods

As Future Deduction for tax purposes can result in the decrease in the Tax base of a liability

Answer = D

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.