What Is an "Originating Difference

question 30

Multiple Choice

What is an "originating difference"?

• A)The net carrying amount of a capital asset or capital asset class for tax purposes in Canada.
• B)A temporary item that narrows that gap between accounting and tax values of an asset or liability.
• C)A temporary item that widens the gap between accounting and tax values of an asset or liability.
• D)The terminology used for depreciation of capital assets under for tax purposes in Canada.

Understand the definition and implications of forming a group, including the reduction or implication of legal liability.

Grasp the application and implications of the reporting entity concept in consolidation accounting.

Identify various types of entities and their inclusion within a controlled group under consolidation accounting.

Comprehend the concepts of 'shared control' and 'joint control' as per Accounting Standard AASB 127.

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Definitions:

Social Groups

Collections of people who interact with each other and share similar characteristics or a sense of unity.

Evaluation Apprehension Model

The argument that the physical presence of members of the same species causes drive because people have learnt to be apprehensive about being evaluated.

Mere Presence

The concept that the simple presence of others can influence an individual's behavior, without any direct interaction.

Individualists

People who prioritize their own goals and well-being over the goals and well-being of the group.