Please circle to indicate your answer to the following questions:
Sr. No | particulars | Answer |
---|---|---|
1 | In an accrual the cash event takes place before or after the income statement event? | After |
2 | In a deferral the cash event takes place before or after the income statement event | Before |
3 | Give an example of a deferred asset. | Deferred tax asset |
4 | Give an example of a deferred liability. | Deferred tax liability |
5 | Give an example of an accrued asset. | Accrued interest income |
6 | Give an example of an accrued liability. | Accrued/unpaid interest expenses |
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