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NEW QUESTION: 1
On 1 January 20X7 GH purchased plant and equipment at a cost of $400,000. The temporary differences in respect of this plant and equipment at 31 December 20X7 and 20X8 have been calculated as follows:

Assume that there are no other temporary differences in the periods and that the corporate income tax rate is 25%. GH is expected to have significant taxable profits in the future.
Which of the following is the correct impact in GH's statement of financial position at 31 December 20X8 in respect of deferred tax?
A. Decrease in the deferred tax asset.
B. Increase in the deferred tax asset.
C. Decrease in the deferred tax liability.
D. Increase in the deferred tax liability.
Answer: B

NEW QUESTION: 2
Drag and Drop Question
Drag and drop the descriptions of EtherChannel protocols from the left onto the correct protocols on the right.

Answer:
Explanation:

NEW QUESTION: 3
Standard fiscal years must start on January 1st.
A. True
B. False
Answer: B