Write 'T' if the statement is true and 'F' if the statement is false. 26)...
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Accounting
Write 'T' if the statement is true and 'F' if the statement is false. 26) A temporary difference is the difference between the carrying amount of an asset or liability in a statement of financial position and its tax base. 27) The tax base for a liability is calculated as the Carrying amount minus Any further deductible amount for tax. le method of acc (mainly tax obligations) of transactions and other economic events 31) A deductible temporary difference is expected to lead to the payment of more tax in the future 32) 33) Underthe tas- payable method, ncome tas expense for the period is the same amount as the income tan payable for the same period 34) 35) The rules for calculating accounting profit are the same as the rules for calculating taxable income. 36) 37) 38) AASB 112 defines the tax base as the amount that is attributed to an asset or a liability for tax purposes. 39) 40) A deferred tax asset is obtained when the taxable temporary differences are multiplied by 30%
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