The Following Information Was Extracted from the Financial Records of Pineapple

question 1

Multiple Choice

The following information was extracted from the financial records of Pineapple Limited: Equipment purchased on 1 July 2021 for $200 000 (accounting depreciation 10% straight line; tax depreciation 15% straight line) . If the company tax rate is 30%, the deferred tax item that will be recorded by Pineapple Limited at 30 June 2022 is:

• A) CR Deferred tax asset $3000.
• B) DR Deferred tax asset $3000.
• C) CR Deferred tax liability $3000.
• D) DR Deferred tax liability $3000.

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Definitions:

Data Analysis

The process of inspecting, cleaning, transforming, and modeling data to discover useful information, inform conclusions, and support decision-making.

Trends

Patterns or directions identified over periods of time in data sets or within a series of data points.

Multiple Regression

A statistical technique that models the relationship between a dependent variable and multiple independent variables to understand the impact of each on the dependent variable.

Predict the Value

The process of using information from existing data or a statistical model to estimate or forecast the value of an unknown variable.