Which of the tax concept（s) allow for the deferral of gains on nonrecognition transactions（)？I. Capital Recovery Concept.II. Ability to Pay Concept.

A.BADQDL

B.QLIMUL

C.QLIMDL

D.TALIMPTIMBQ

E.RLINKT

A.Labeling pictures according to their contents.

B.Sequencing the pictures according to the story.

C.Matching the pictures with the headings.

D.Commenting on the pictures.

A.the preliminaries

B.the text of the paper

C.the reference materials

D.all of the above

A.Higher tax burden ratio

B.Lower interest burden ratio

C.Higher dividend payout ratio

. Company Y’s fixed assets have a four-year useful life for financial purpose (which is double the useful life for tax purpose) and are depreciated using the straight-line method.

The effective tax rate for the company is closest to:

A.30.0%

B.26.7%

C.24.0%.

A. BOOTP

B. TFTP

C. ARP

D. DNS

E. proxy - ARP

F. FTP

(c) (i) State the date by which Thai Curry Ltd’s self-assessment corporation tax return for the year ended

30 September 2005 should be submitted, and advise the company of the penalties that will be due if

the return is not submitted until 31 May 2007. (3 marks)

(ii) State the date by which Thai Curry Ltd’s corporation tax liability for the year ended 30 September 2005

should be paid, and advise the company of the interest that will be due if the liability is not paid until

31 May 2007. (3 marks)

A.Income tax expense is based on current period pretax income adjusted for any changes in deferred tax assets and liabilities.

B.A valuation allowance is a reserve against deferred tax assets based on the likelihood that those assets will not be realized.

C.A deferred tax liability is created when tax expense is less than taxes payable and the difference is expected to reverse in future years.

A.I and IV only

B.I and III only

C.II and III only

D.II and IV only

Which of the following statements regarding deferred taxes is least accurate？

A.A permanent difference is a difference between taxable income and pretax income that will not reverse.

B.A deferred tax asset is created when a temporary difference results in taxable income that exceeds pretax income.

C.Deferred tax assets and liabilities are not adjusted for changes in tax rates.