QUESTION 1 (Totat: 40 marks) Scon Seng Berhad [358] has in its financial statement unodjusted deterred lability amount of RMS milion at 31 Decerrber 2020 . The folowing fransoctions took place during the year 2000: 1) During the year SSB's plant was revalued and surplus wos RM3 milion. At the end of the year, the carrying amourt of plant was RM15 milion and tax bosed was RM10 milion. Gairs on rewaluation are tawable on sale at 15%. 2) On 1 January 20020 , SSB boughe a motor vehicke for RM100,000 and SSB expects to use it for the years. Capitd allowance for the frst year ik sat. 3) 558 provides general provilion for doubtflu debts of 1%. Trode recelvables at the end of the year was RMS milion. Last year provikion stood at RM 40 DOO. 4) Development expenditure of RMS milion was capifalied in accordance with MFFS 138 bue is doducted for tax purposes. There was no amortication for the year. 5) For the year, SSB dso provides provision for wamanty of RM200,D00. 6] Entertahment experses for RMSa,000 are for sauncing potertial clients overseas. The entertainment expenses were accidentaly daimed for deduction during year 2020 subrrisaion. 7) 558 has recognised income recelvable of RM1 milon but none has been recelved. g) Interest expenses of RM2 milion has not been paid. 9) SBB Bought inandial assets for RM100,DCO. At the end of the year these fhancid casets value stood at RM150,D00. 533 classified these financid casets as Far Value through Protit or Loss. 10) Income tax is at 25%. The fax experses for the year (betore aqlustments) stood at RMI milion. Required: a) Differentiate between Temporary and Permanent Differences. Ilustrate your arawers through examples. (4 maris)