All of the following are examples of facts that may create temporary book-tax differences except ________. Group of answer choices depreciation contingent liabilities product warranty costs payment of premiums for life insurance

dentify the rule that determines whether a taxpayer must include in income a refund of an amount deducted in a previous year: Multiple Choice tax refund rule. constructive receipt return of capital principle. tax benefit rule. None of the choices are correct

Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities.  ii. A registered taxpayer can claim input tax credit for items used for zero-rated  activities.   iii. The VAT rate Exempt supplies  is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. Question 21Answer a. None of the above b. i, ii and iv c. i only d. i, and iii

Which of the following statements BEST describes an important tax planning opportunity with regard to loss carry​ overs? Question 5 options: As noncapital loss carry overs have an unlimited carry forward​ period, only net capital loss carry overs should be used to reduce Taxable Income to zero. As personal tax credits have an unlimited carry forward​ period, loss carryovers should be used to reduce Taxable Income to nil. Loss carry overs should not be used to reduce Taxable Income to zero as this prevents the application of personal tax credits. Loss carry overs should be used to reduce Taxable Income to zero so that personal tax credits can be applied to trigger a refund of taxes in the year.