The Following Information Was Extracted from the Financial Records of Panda

question 13

Multiple Choice

The following information was extracted from the financial records of Panda Limited: equipment purchased on 1 July 2014 for $140 000 (accounting depreciation 10% straight line; tax depreciation 20% straight line) . If the company tax rate is 30%, the deferred tax item that will be recorded by Panda Limited at 30 June 2015 is which of the following?

• A) Dr Deferred tax asset $14 000
• B) Cr Deferred tax asset $4200
• C) Dr Deferred tax liability $14 000
• D) Cr Deferred tax liability $4200

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Definitions:

Muscle Contraction

The process where muscle fibers shorten or lengthen to produce movement or maintain posture.

Contraction Cycle

The series of events in muscle fibers that lead to shortening and generating force, crucial for movement.

Myofibril

A basic rod-like unit of a muscle cell, composed of long proteins including actin, myosin, and others, responsible for muscle contraction and relaxation.

Muscle Fiber

A single muscle cell, typically cylindrical in shape, that contracts in response to stimulation and is essential for producing bodily movements.