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1. Why doesn’t this Taxation control account balance?
Not all of the line items have yet been included (deferred tax asset movements are missing)
Not all control accounts are intended to balance
Since tax rules are different to accounting rules, the accounts will not reconcile due to the permanent differences
2. Differences between accounting and tax depreciation usually (not always) give rise to what?
Deferred tax liabilities
Deferred tax assets
3. Which of the following tax depreciation methods tends to give rise to the majority of accelerated capital allowances?
Sum Of Digits
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