Use the Table Below to Answer the Following Question(s)

question 66

Short Answer

Use the table below to answer the following question(s).The table shows the crude oil prices in dollars per barrel,for 2007.
-Locate the median price of crude oil in 2007.

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Definitions:

Income Tax

Tax levied on company income.

AASB 112

The Australian Accounting Standards Board's standard regarding Income Taxes, which dictates the accounting treatment for current and deferred tax.

Deferred Tax

A tax liability or asset that arises due to the temporary differences between the accounting income and the taxable income.

Income Tax Expense

The cost incurred by individuals or corporations due to income taxes.