The Amount of Any Unused Tax Losses Must Be Disclosed

question 61

True/False

The amount of any unused tax losses must be disclosed on the face of the income statement.

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Definitions:

Basic Needs

Essential requirements for humans to survive and maintain health, typically including food, water, shelter, and clothing.

Voidable

describes a contract or transaction that is valid and enforceable on its face, but may be deemed void by one or more of the parties due to certain conditions.

Disaffirm

The act of rejecting, denying, or voiding a contract or agreement, especially one entered into by a minor or under conditions that render it voidable.

Age Of Majority

The legal age at which an individual is considered legally competent to consent to contracts and manage personal affairs; varies by country, generally 18 or 21 years old.