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3 Cards in this Set
- Front
- Back
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Permanent Differences |
Examples: 50% cap. Gain Dividend from Canadian Corp Golf dues Political contributions 50% meals Int. And penalties on t |
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Future Income Tax Method vs. Taxes Payable Method (ASPE Only) |
Taxes Payable Method: current income taxes are only recorded - deferred income taxes are ignored |
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Method of accounting for taxes (IFRS) |
Current taxes and deferred taxes - tax asset and liability are considered long-term |
