Practice Quiz (for Week 4 On-line Quiz) - School of Accounting UNSW Business School Site Home Announcements User Guides You are logged in as Zhe Yan(Log

Practice Quiz (for Week 4 On-line Quiz) - School of...

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Site Home Announcements " User Guides You are logged in as Zhe Yan ( Log out ) ACCT5942-Corporate Accounting and Regulation - Se… School of Accounting UNSW Business School # My courses UNSWA - University of New South Wales COMM - UNSW Business School ACCT - School of Accounting ACCT5942-5154_00224 Week 3 Practice Quiz (for Week 4 On-line Quiz) Started on Sunday, 22 March 2015, 4:37 PM State Finished Completed on Sunday, 22 March 2015, 5:25 PM Time taken 48 mins 27 secs Grade 12 out of 20 ( 60 %) Feedback Please practise this quiz until you achieve 100% within the time limit. Question 1 Incorrect Mark 0 out of 1 Flag question Taxable income is: Select one: a. Net cash b. Net profit before tax c. Assessable incomes less deductions allowed d. Net profit before tax adjusted for the following: (1) revenues that are not assessable for tax purpose; and (2) expenses that are not deductible for tax purpose e. Both C and D are correct Your answer is incorrect.
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The correct answer is: Assessable incomes less deductions allowed Question 2 Correct Mark 1 out of 1 Flag question A deductible temporary di ff erence is expected to lead to the payment of: Select one: a. less tax in the future and gives rise to a deferred tax asset b. more tax in the future and gives rise to a deferred tax asset c. more tax in the future and gives rise to a deferred tax liability d. less tax in the current year and more tax in the future. e. less tax in the future and gives rise to a deferred tax liability. Your answer is correct. The correct answer is: less tax in the future and gives rise to a deferred tax asset Question 3 Incorrect Mark 0 out of 1 Flag question Under AASB 112 Incomes Taxes , deferred tax assets and liabilities are measured at the tax rates that: Select one: a. are expected to apply when the asset or liability is settled. b. at the rates that prevail at the reporting date c. None of the above (i.e., all are incorrect) d. at the end of the reporting period e. applied at the beginning of the reporting period Your answer is incorrect.
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The correct answer is: are expected to apply when the asset or liability is settled. Question 4 Correct Mark 1 out of 1 Flag question Which of the following is true: Select one: a. Calculation of deferred tax asset Calculation of deferred tax liability Assessable temporary di ff erences divided by the tax rate. Deductible temporary di ff erences divided by the tax rate b. Calculation of deferred tax asset Calculation of deferred tax liability Assessable temporary di ff erences multiplied by the tax rate. Assessable temporary di ff erences multiplied by the tax rate. c. Calculation of deferred tax asset Calculation of deferred tax liability Deductible temporary di ff erences multiplied by the tax rate Deductible temporary di ff erences multiplied by the tax rate d.
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