(a) Distinguish between current tax and deferred tax. (b) Distinguish between permanent differences and temporary differences. (c)...
Question:
(a) Distinguish between current tax and deferred tax.
(b) Distinguish between permanent differences and temporary differences.
(c) Explain how temporary differences between accounting profits and taxable profits would affect the tax expense shown in an entity's financial statements unless deferred tax were taken into account.
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a Current Tax is a tax which is payable by an entity in the current financial year whereas Def erred ...View the full answer
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