Malarky Limited accrued €30 000 for employees' long service leave in the year ended 30 June 2016. This item will not be tax deductible until it is paid in approximately 10 years' time. If the company tax rate is 30%, Malarky Limited must record the following tax effect adjustment at the reporting date:
A) debit Deferred tax asset €9000;
B) debit Deferred tax liability €9000;
C) credit Deferred tax asset €9000;
D) credit Deferred tax liability €9000.
Correct Answer:
Verified
Q1: Tax losses can be viewed as providing:
A)
Q2: D'Silva Limited has a product warranty liability
Q5: The deferred tax liability is:
A)$1 500
B)$4 500
C)$15
Q9: The tax expense related to profit or
Q10: Under IAS 12 Incomes Taxes, deferred tax
Q11: The following information was extracted from the
Q11: The deferred tax asset is:
A)$1 500
B)$4 500
C)$5
Q13: At what point in time are deferred
Q14: CTT Limited has an asset which cost
Q17: In jurisdictions where the impairment of goodwill
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