PG 48 BPP RÉVISION KIT CHAPTER ACCOUNTING FOR TAXATION

SShiana5y ago

Hello sir num 140 in bpp kit how to know it is an asset or a liability??

P2-D2Tutor5y ago#1

Hi, I've not got the kit to hand, sorry, but remember that debit balances are assets and credit balances liabilities. For deferred tax it is is a DT liability if the CV is greater than the tax base, and a liability if the tax base is greater than the liability. Hope this helps. Thanks

SShiana5y ago#2

Thanks a lot sir :)

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