AS 22

To provide general instructions for financial reporting

To explain the concept of matching in accounting

To highlight the differences between taxable income and accounting income

To prescribe accounting treatment for taxes on income (correct)

In the period when the tax return is filed

In the same period as the revenue and expenses they relate to (correct)

In the period when the tax liability is assessed

In the period when the tax payment is made

Equity

Liabilities

Assets

Taxes on income (correct)

<p>Taxable income may be significantly different from accounting income</p> Signup and view all the answers

<p>Its objective and the General Instructions</p> Signup and view all the answers