Which of the Following Statements Is Correct with Respect to AASB

question 45

Multiple Choice

Which of the following statements is correct with respect to AASB 112 "Income Taxes" when a non-current asset is revalued?

• A) On revaluation date, the revaluation reserve is increased by the product of the temporary difference and the tax rate.
• B) On revaluation date, the revaluation reserve is decreased by the product of the temporary difference and the tax rate.
• C) On revaluation date, a deferred tax liability is created equal to the amount of the temporary difference.
• D) On revaluation date, a deferred tax asset is created equal to the amount of the temporary difference.
• E) None of the given answers

Understand the principles of selecting the appropriate writing style for business reports.

Identify the proper organization structure for various types of business reports.

Recognize the different formats suited for internal and external business communication.

Comprehend the role of reports in business decision-making processes.

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Definitions:

Characteristics

Distinctive features or qualities that define a person, thing, or phenomenon.

Effective Leader

A person who can influence and guide followers or other members of an organization to achieve specific goals in an efficient manner.

Trait Theories

Theories that focus on identifying, describing, and measuring individual personality characteristics or traits.

Leadership

The act of guiding, directing, or influencing individuals or groups towards achieving a common goal through inspiration and example.