Case 6-2 Dontray Works as a Programmer for a Software

question 34

Multiple Choice

Case 6-2 Dontray works as a programmer for a software development firm. He writes the steps of an algorithm in a computer programming language or code. Dontray follows rules for how words are used together, called ____.

• A) input
• B) syntax
• C) logic
• D) sequence

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Definitions:

Temporary Differences

Differences between taxable income and accounting income that are only for a limited period and will reverse in the future.

Depreciable Assets

Assets subject to depreciation, which entails allocating the cost of tangible assets over their useful lives to account for wear and tear.

Deferred Tax Liability Balance

An accounting term for taxes that are owed but not yet paid, a result of temporary differences between the tax basis of assets or liabilities and their carrying amount in the financial statements.

IFRS Deferred Tax Assets

Assets recognized in financial statements under International Financial Reporting Standards (IFRS) due to temporary differences that will result in deductible amounts in the future.