Tax functions that accounting and finance professionals may assist clients with include all but the following O A. Tax compliance B. None of these OC. Tax evasion O D. Tax planning OF. Cash management to ensure timely payment of taxes

What is a key step in the tax audit process? a) Submitting financial statements to the tax authority b) Reviewing the taxpayer's records and documents c) Negotiating a settlement with the tax authority d) Publishing the audit findings to the public

What is the primary purpose of internal controls in an Accounting Information System (AIS )? a) To generate financial statements b) To ensure data accuracy and integrity c) To facilitate decision-making processes d) To comply with tax regulations

1. Under IFRS companies are required to provide a reconciliation between actual tax expense and the applicable tax rate. The purpose(s) of this reconciliation include I.    Making better prediction of future cash flow. II.  Predicating future cash flows for operating loss carryforwards. III. Assessing the composition of the net deferred income tax liability. IV. Assessing quality of earnings. Select one: a.I, II, III and IV. b.I, III, and IV only. c.I, II and IV only. d.I and IV only.     2. Under IFRS deferred tax assets are recognized for I.    Deductible temporary differences. II.  Deductible permanent differences. III. Operating loss carryforwards. IV.  Operating loss carrybacks Select one: a.I and III only. b.I and IV only. c.II and III only. d.I, II, and III.   3. In determining whether to adjust a deferred tax asset, a company should   Select one: a.pass a recognition threshold, after assuming that it will be audited by taxing authorities. b.take an aggressive approach…