To the Extent That Tax Payable Exists and Has NOT

question 1

Multiple Choice

To the extent that tax payable exists and has NOT yet been paid, a company will recognise:

• A) current tax asset;
• B) non-current asset;
• C) non-current liability;
• D) current tax liability.

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Definitions:

Protobionts

Assemblages of organic polymers that spontaneously form under certain conditions. Protobionts may have been involved in chemical evolution.

Abiotically Produced

Referring to substances or processes occurring without the involvement of biological organisms, typically through physical or chemical phenomena.

Ribozymes

RNA molecules capable of catalyzing specific biochemical reactions, similar to protein enzymes.

Late Pliocene

A geological time period that occurred about 3.6 to 2.58 million years ago, just before the Pleistocene, and is characterized by significant climatic changes that led to the current ice age.