Which of the Following Statements Is Correct with Respect to IAS

question 46

Multiple Choice

Which of the following statements is correct with respect to IAS 12 Income Taxes when the government increase tax rates?

• A)The entity applies a prospective application to deferred tax assets and deferred tax liabilities initially recognised subsequent to the announcement of the tax change.
• B)Expense is recognised if the entity has deferred tax liabilities only.
• C)Income is recognised if the entity has deferred tax liabilities only.
• D)Expense is recognised if the entity has deferred tax assets only.

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Definitions:

Harmonizer

A Harmonizer in a team or group context seeks to reduce conflict and enhance cooperation among members, ensuring smoother interactions and progress.

Meeting Productivity

The effectiveness and efficiency of a meeting in achieving its objectives.

Brainstorming Sessions

Collaborative group meetings focused on generating a wide range of ideas or solutions to a specific problem.

Meeting Length

The duration for which a meeting is planned or actually takes place.