When the Balance Sheet Approach to Tax Effect Accounting Is

question 21

Multiple Choice

When the balance sheet approach to tax effect accounting is adopted:

• A)the income tax expense is measured by the aggregate change in the amounts of deferred tax assets and deferred tax liabilities over the reporting period
• B)the income tax expense can be greater than, or less than, the income tax payable for the reporting period
• C)the current tax expense is measured by the aggregate change in the amounts of deferred tax assets and deferred tax liabilities over the reporting period
• D)there will always be recognised deferred tax assets and deferred tax liabilities

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Definitions:

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