Answer:
c. Recognition of assets and liabilities
Explanation:
Determining periodic deferred tax is a consequence of difference of tax as per book profit and profit as per income tax norms.
Thus recognition of deferred tax asset or liability is matching of assets and liabilities, as when we recognize deferred tax asset as in the condition that the tax payable as per income tax is less and as per books is more than deferred tax asset arises.
In this case we recognize the asset, then against that asset recognized is income tax payable, further income tax payable is set off against this asset and income tax expense.
<u>Answer:</u>
Unicorn Medicines, a pharmaceutical company based in the United States, has its research and development units spread across the globe. These research and development units have lately not been receiving adequate financial support.
(B) Most innovative ideas do not become a successful new product.
This is typically the cause for such a situation.
<u>Explanation:</u>
Whatever that comes to your mind will not necessarily take shape in reality. Success comes to that person who had the perspective of success in their mind and bring their thoughts to reality. Similarly, if we want to build a product for that, the innovative ideas that come to our mind should be applied and from that, the final product achieved will become desirable.
Nowadays most of the innovative ideas do not become a successful new product thats why the financial supporters are hesitating to invest in any kind of research and development. So that's the reason why the research and development units have lately not been receiving adequate financial supporters.
Answer:
Abstraction
Explanation:
Abstraction can be defined as the doing way of some details that are not too necessary so that the main subject or features have maximum attention.
absstraction is very important in the aspect of object oriented programming
It should be noted that the process of paying attention to important properties while ignoring nonessential details is Abstraction.
Answer:
$72,800
Explanation:
Book value:
= Value of bonds + Unamortized bond premium
= $1,000,000 + $92,800
= $1,092,800
Paid at redemption:
= 102% of value of bonds
= 102% × $1,000,000
= $1,020,000
Gain on bond retirement:
= Book value - Paid at redemption
= $1,092,800 - $1,020,000
= $72,800
Therefore, gain should be recognized on this bond retirement will be $72,800.
