If a Company Has Not Yet Paid Their Existing Tax

question 16

Multiple Choice

If a company has not yet paid their existing tax payable they will recognise a in the statement of financial position.

• A) current tax asset.
• B) non-current asset.
• C) current tax liability.
• D) non-current liability.

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Definitions:

Competition

is the rivalry among businesses or individuals for resources, customers, or market territory, driving innovation and efficiency.

Commercial Zones

Areas designated for business activities, trade, or services, typically regulated by local or national laws.

Fastest Growing Cities

Cities experiencing the highest rates of population increase, often due to economic opportunities, migration, and urbanization.

Peripheral Countries

Nations that are less economically developed and often dependent on the core countries for capital and are exploited for labor and resources.