The entries for income tax for the period are comprised of three components. Which of the following is NOT included in the components?

Question

Quizplus · Accepted Answer

The purchase of goodwill does not create a temporary difference for tax purposes and therefore does not have an impact on the calculation of income tax. The other components listed (current tax liability, movement in deferred tax liability, and movement in deferred tax asset) are all relevant to the calculation of income tax.

The Entries for Income Tax for the Period Are Comprised