Urgent! Please answer ASAP.

(a) Indigo Ltd has an asset which cost $400 and against which depreciation of $200 has accumulated. The accumulated depreciation for tax purposes is $280 and the company tax rate is 30%. The tax base of this asset is:

		$320.
		$120.
		$36.
		$80.

(b)

AASB 112 Income Taxes, requires disclosure of the following: I. The major components of income tax expense. II. A reconciliation between prima facie tax on pre-tax profit and the income tax expense recognised. III. The amount of deferred tax assets recognised in the statement of financial position for deductible temporary differences. IV. The amount of deferred tax assets recognised in the statement of financial position for unused tax losses.

		I., II. and III. only.
		I., II., III. and IV.
		I. only.
		I. and II. only.

(c)

Tax losses can be viewed as providing:

		deductible temporary differences, and therefore a deferred tax asset.
		taxable temporary differences, and therefore a current tax refund.
		deductible temporary differences, and therefore deferred tax liabilities.
		taxable temporary differences, and therefore a current tax liability.