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ch4aika [34]
2 years ago
10

Justification for the method of determining periodic deferred tax expense is based on the concept ofa. Matching of periodic expe

nse to periodic revenue.b. Objectivity in the calculation of periodic expense.c. Recognition of assets and liabilities.d. Consistency of tax expense measurements with actual tax planning strategies.
Business
1 answer:
sukhopar [10]2 years ago
6 0

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.

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