Explain the meaning and significance of each of the following terms in accounting for company income tax:
(i)Tax payable method
(ii) Tax Allocation-the balance sheet approach
(iii) Deferred tax asset
(iv) Deferred tax liability
(v)Tax base
(vi) $\text { Permanent difference }$

Question

Explain the meaning and significance of each of the following terms in accounting for company income tax:
(i)Tax payable method
 (ii) Tax Allocation-the balance sheet approach
(iii) Deferred tax asset
(iv) Deferred tax liability 
(v)Tax base
 (vi)  $\text { Permanent difference }$

Quizplus · Accepted Answer

The Answer of Explain the meaning and significance of each of the following terms in accounting for company income tax:
(i)Tax payable method
 (ii) Tax Allocation-the balance sheet approach
(iii) Deferred tax asset
(iv) Deferred tax liability 
(v)Tax base
 (vi)  $\text { Permanent difference }$

Explain the Meaning and Significance of Each of the Following Permanent difference \text { Permanent difference } Permanent difference

Explain the Meaning and Significance of Each of the Following $\text { Permanent difference }$