Under IFRS Deferred Tax Assets Are Recognized for

question 59

Multiple Choice

Under IFRS deferred tax assets are recognized for
I.Deductible temporary differences.
II.Deductible permanent differences.
III.Operating loss carryforwards.
IV.Operating loss carrybacks.

• A)I, II, and III.
• B)I and III only.
• C)I and IV only.
• D)II and III only.

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Definitions:

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount that remains unpaid.

Income Earned

The total revenue generated from all sources, including sales, services, and investments, before any deductions.

Additional Deposit

An extra amount of money added to an existing account or investment.

Lump Sum

A single payment made at one time, as opposed to a series of payments made over time.