The tax base of an asset is defined by international standard IAS12 as the amount which is attributable to that asset for tax purposes. If the tax base of an asset is less than its carrying amount, this is evidence of:
(1 Mark)

Question

The tax base of an asset is defined by international standard IAS12 as the amount which is attributable to that asset for tax purposes. If the tax base of an asset is less than its carrying amount, this is evidence of: 
 (1 Mark)

Answer

A deductible temporary difference

Answer

A taxable temporary difference

Answer

A taxable permanent difference

Answer

A deductible permanent difference

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The tax base of an asset is defined by international standard IAS12 as the amoun...

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