• Indicate for each of the statements whether it is T or F according to NZ IAS 12.

• If the statement is false, rewrite the statement to make it true. If the statement is true, you do NOT need to explain.

1. The tax base of the liability revenue received in advance is its carrying amount minus any amount of the revenue that will be taxable in future periods.

1. If the accounting carrying amount of a liability is greater than its tax base, there is a deductible temporary difference.