1. Recognizing a deferred tax asset for most deductible temporary differences and carryforward of unused tax...

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1. Recognizing a deferred tax asset for most deductible temporary differences and carryforward of unused tax...

1. Recognizing a deferred tax asset for most deductible temporary differences and carryforward of unused tax losses is

a. Used under ASPE only.

b. Used only for corporate income tax purposes for CRA.

c. Used only to the extent that it is probable and deferred tax asset will be realized.

d. Used under IFRS only.

business accounting

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Answer 1

Answer #1

Solution:

Recognizing a deferred tax asset for most deductible temporary differences and carryforward of unused tax losses is " Used only to the extent that it is probable and deferred tax asset will be realized".

Hence option "c" is coorect.

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Answer 2

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