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Quiz
1
Intermediate
Which financial statement records Accounting Taxable Profit?
Income Statement
Cash Flow Statement
None
Don’t know
2
Intermediate
Which of the following is true when reconciling Accounting Taxable Profit with Net Profit Before Tax?
Accounting Taxable Profit must be grossed up by the tax rate for reconciliation purposes
Disallowable expenses must be deducted from the Accounting Taxable Profit
Non-assessable revenues must be added back to Net Profit before Tax
Don’t know
3
Intermediate
Which is the correct calculation for Tax Expense?
Accounting Taxable Profit x Tax Rate
Net Profit Before Tax x Tax Rate
MAX(Accounting Taxable Profit x Tax Rate, 0)
Don’t know
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