IAS 12 Uses What Term to Describe the Method for Accounting

question 75

Multiple Choice

IAS 12 uses what term to describe the method for accounting for taxes that it mandates?

• A)net balances method
• B)financial position method
• C)asset and liability method
• D)balance sheet method

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Definitions:

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Myers-Briggs Type Indicator

A personality inventory that categorizes individuals into 16 distinct personality types based on preferences in how they perceive the world and make decisions.

Empirical Evidence

Information acquired by observation or experimentation that is used to confirm or refute a hypothesis.

Basic Body Fluids

Typically refers to the four humors of ancient and medieval medicine: blood, phlegm, black bile, and yellow bile, believed to determine a person's health and temperament.