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1. How many lines from this Taxation control account must be directly referenced in the financial statements to make the Balance Sheet balance?
2. If the numbers are right in this incomplete control account and the discrepancy is attributable to only one line item, which would it be?
Deferred tax liabilities
Deferred tax assets
3. Which of the following is not a true statement regarding Deferred Tax Assets (DTAs)?
They generally arise from the creation of tax losses
These items are always categorized as “non-current’ even if they crystalize in five minutes time
In statutory accounting DTAs must not be netted off against Deferred Tax Liabilities (DTLs)
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