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Question 16 1 pts An item of plant was purchased at the cost of $200,000 on 1 July 2018. For accounting purposes, it is expected
Question 16 1 pts An item of plant was purchased at the cost of $200,000 on 1 July 2018. For accounting purposes, it is expected to have a useful life of 5 years; however, for taxation purposes, it can be depreciated over 4 years. It is not expected to have any residual value. The tax rate is 30% In accordance with AASB 112 Income Taxes, at 30 June 2020, this item of plant will give rise to: Deferred tax liability of $6,000 Deferred tax liability of $20,000 O Deferred tax asset of $20,000 Deferred tax asset of $6,000
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