Economics · Financial Reporting
Deferred tax assets and liabilities arise from taxable and deductible temporary differences. Which of the following is NOT a circumstance giving rise to a temporary difference?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Revenue included in accounting profit when invoiced but only liable for tax when the cash is received
- 2Accrued expenses which have already been deducted for tax purposes✓
- 3Development costs amortised in profit or loss but tax was deductible in full when incurred
- 4Depreciation accelerated for tax purposes
Correct answer
Accrued expenses which have already been deducted for tax purposes
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