Under IFRS, How Are Deferred Tax Asset and Liability Accounts

question 55

Multiple Choice

Under IFRS, how are deferred tax asset and liability accounts presented on the SFP?

• A) They must be segregated into current and non-current items.
• B) They must be shown as non-current assets or liabilities.
• C) They must be shown as current assets or liabilities.
• D) They must be reported as a reduction of the related asset or liability accounts.

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Definitions:

Artistic

Pertaining to the application or expression of creativity and imagination in activities such as painting, music, literature, and dance.

Emotional

Relating to a person's feelings, mood, and affective states, often influencing behavior and decision-making.

Psychosocial

Pertaining to the influence of social factors on an individual's mind or behavior, and the interrelation of behavioral and social factors.

Nature

The inherent qualities or characteristics of something, or the physical world collectively, including plants, animals, and landscapes.