1 Criteria used by an entity to assess the probability that taxable profit will be available against which unused tax losses can be utilised include Multiple Choice whether it is probable that the entity will have taxable profits before the unused tax losses expire whether permission has been received from the Australian Taxation Office to carry forward tax losses whether the unused tax losses result from identifiable causes that are unlikely to recur whether the entity has unused tax losses relating to the same taxation authority and the same taxable entity, which will result in taxable amounts against which the unused tax losses can be utilised before they expire 2 Digitor Industries Ltd accrues long service leave as employees work towards their entitlement For tax purposes, long service leave is not deductible until it is paid During the current period Digitor has accrued $50 000 in long service leave expense and paid none The tax rate is 30 What is the journal entry to record the deferral 3 One of the advantages of AASB segment reporting is Multiple Choice Increased rules based reporting Provides full disclosure of the entity's activities All segments are reportable Highlightstheperformanceofthedifferententityactivities 4 The guidelines to determine that a segment is reportable in accordance with AASB 8Operating Segmentsinclude Multiple Choice the expenses of the segment that relate to external sales are equal to or greater than 10 per cent of total segment expenses the expenses of the segment that relate to external sales are equal to or greater than 10 per cent of total segment expenses, and the segment's revenues are 10 per cent or more of the total segment revenues the segment's external revenue is equal to or greater than 10 per cent of the external sales of all operating segments thesegment'sreportedrevenue,includingbothsalestoexternalcustomersandintersegmentsalesortransfers,is10percentormoreofthecombinedrevenue,internalandexternal,ofalloperatingsegments

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1. Criteria used by an entity to assess the probability that taxable profit will be available against which unused tax losses can be utilised include:

Criteria used by an entity to assess the probability that taxable profit will be available against which unused tax losses can be utilised include:

Multiple Choice

whether it is probable that the entity will have taxable profits before the unused tax losses expire.
whether permission has been received from the Australian Taxation Office to carry forward tax losses.
whether the unused tax losses result from identifiable causes that are unlikely to recur.
whether the entity has unused tax losses relating to the same taxation authority and the same taxable entity, which will result in taxable amounts against which the unused tax losses can be utilised before they expire.

2.Digitor Industries Ltd accrues long-service leave as employees work towards their entitlement. For tax purposes, long-service leave is not deductible until it is paid. During the current period Digitor has accrued $50 000 in long-service leave expense and paid none. The tax rate is 30%. What is the journal entry to record the deferral?

One of the advantages of AASB segment reporting is?

Multiple Choice

Increased rules-based reporting.
Provides full disclosure of the entity's activities.
All segments are reportable.
Highlightstheperformanceofthedifferententityactivities.

The guidelines to determine that a segment is reportable in accordance with AASB 8Operating Segmentsinclude:

Multiple Choice

the expenses of the segment that relate to external sales are equal to or greater than 10 per cent of total segment expenses.
the expenses of the segment that relate to external sales are equal to or greater than 10 per cent of total segment expenses, and the segment's revenues are 10 per cent or more of the total segment revenues.
the segment's external revenue is equal to or greater than 10 per cent of the external sales of all operating segments.
thesegment'sreportedrevenue,includingbothsalestoexternalcustomersandintersegmentsalesortransfers,is10percentormoreofthecombinedrevenue,internalandexternal,ofalloperatingsegments.