For the First Two Years That a Group Files a Consolidated

question 48

True/False

For the first two years that a group files a consolidated tax return, it may make estimated payments on either a consolidated or separate return basis.

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Definitions:

Cash-generating Units

The smallest identifiable group of assets that generates cash inflows largely independent of the cash inflows from other assets or groups of assets.

AASB 6/IFRS 6

Standards guiding the exploration for and evaluation of mineral resources, providing criteria on the recognition and measurement of exploration and evaluation expenditures.

Non-regenerative Resources

Resources that cannot be replenished or renewed after their consumption, such as fossil fuels and minerals.