Thursday 14 January 2016

Cima F1 Exam Question No 36

Question No 36:

CFP, an entity resident in Country X, had an accounting profit for the year ended 31 December 2011 of $860,000. The accounting profit was after charging depreciation of $42,000 and amortisation of development costs of $15,000.
 

CFP was entitled to a tax depreciation allowance of $51,000 for the year to 31 December 2011.
CFP’s tax payable for the year ended 31 December 2011 is:

A.
$202,250
B.
$206,500
C.
$212,750
D.
$216,500

Answer: B

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