Amount attributed to the asset or liability for tax purpose is called

Related MCQs

• Adjustment of the carrying amount of an asset or liability or the consumption of an asset is defined as,
• Carrying amount of an asset as on 1st April 2015 is Rs. 1500000 and depreciation for the year 2015 – 2016 is 15000. Fair value of the asset less cost of disposal as on 31 March 2016 is Rs. 120000. Which of the following is the carrying amount at 1st April 2106?
• When the recoverable amount of an asset is less than its carrying value in the statement of financial position, the asset is said to be
• Original cost at which asset or liability is acquired is known as ..
• Total borrowings used for construction of an office building are Rs.30, 00000. Entity issued 8% debentures worth 10,00000 for this purpose and balance amount was utilized from its common pool including 10% bank loan of Rs.1000000 and 9.5% bank loan of Rs.1000000. What is the amount of borrowing cost to be capitalized?
• A……………………..is the liability of uncertain timing and uncertain amount.
• ” Deferred tax asset is not a component of statement of financial position”
• …………. are the amount of income tax payable in future period for taxable temporary differences.
• ……….is the amount of income taxes payable on the taxable profit for a period, in accordance with rules established by the tax authorities
• Present value of expected future cash flows generated by an asset, plus its expected disposal value is called.