ch19 test bank questions - CHAPTER 19 ACCOUNTING FOR INCOME...

ch19 test bank questions
Download Document
Showing pages : 1 - 3 of 46
This preview has blurred sections. Sign up to view the full version! View Full Document
CHAPTER 19 ACCOUNTING FOR INCOME TAXES IFRS questions are available at the end of this chapter. TRUE-FALSE —Conceptual Answer No. Description F 1. Taxable income. F 2. Use of pretax financial income. T 3. Taxable amounts. T 4. Deferred tax liability. F 5. Deductible amounts. T 6. Deferred tax asset. F 7. Need for valuation allowance account. T 8. Positive and negative evidence. F 9. Computation of income tax expense. T 10. Taxable temporary differences. F 11. Taxable temporary difference examples. T 12. Permanent differences. T 13. Applying tax rates to temporary differences. F 14. Change in tax rates. F 15. Accounting for a loss carryback. T 16. Tax effect of a loss carryforward. T 17. Possible source of taxable income. T 18. Classification of deferred tax assets and liabilities. F 19. Classification of deferred tax accounts. F 20. Method used for accounting for income taxes. MULTIPLE CHOICE —Conceptual Answer No. Description b 21. Differences between taxable and accounting income. c 22. Differences between taxable and accounting income. b 23. Determination of deferred tax expense. a 24. Differences arising from depreciation methods. a P 25. Temporary difference and a revenue item. b S 26. Effect of future taxable amount. c P 27. Causes of a deferred tax liability. d S 28. Distinction between temporary and permanent differences. b S 29. Identification of deductible temporary difference. c S 30. Identification of taxable temporary difference. d S 31. Identification of future taxable amounts. c 32. Identify a permanent difference. d 33. Identification of permanent differences. d 34. Identification of temporary differences. d 35. Difference due to the equity method of investment accounting. b 36. Difference due to unrealized loss on marketable securities. a 37. Identification of deductible temporary differences.
Background image of page 1
Test Bank for Intermediate Accounting, Fourteenth Edition d 38. Identification of temporary difference. 19 - 2
Background image of page 2
Accounting for Income Taxes MULTIPLE CHOICE —Conceptual (cont.) Answer No. Description c S 39. Accounting for change in tax rate. c 40. Appropriate tax rate for deferred tax amounts. b 41. Recognition of tax benefit of a loss carryforward. a 42. Recognition of valuation account for deferred tax asset. d 43. Definition of uncertain tax positions. c 44. Recognition of tax benefit with uncertain tax position. d 45. Reasons for disclosure of deferred income tax information. c 46. Classification of deferred income tax on the balance sheet. b 47. Classification of deferred income tax on the balance sheet. d 48. Basis for classification as current or noncurrent. d 49. Income statement presentation of a tax benefit from NOL carryforward. c S 50. Classification of a deferred tax liability. c
Background image of page 3
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.