Question

AS 22 deals with___________ (a) Accounting for tax on income (b) Intangible assets (c) Impairment of assets (d) Accounting for investments

Answer 1

As 22 deals with accounting for tax on income.

option A) is the correct answer.

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Answer 2

It deals with taxes on Income

• The accounting for income taxes must follow this standard.
• The disparities among the total income from accounting and taxable income are generally matched by using it.
• The goal is to accurately specify how income taxes should be treated in accounting.
• Taxable income and accounting income may differ greatly, which makes it difficult to match taxes to revenue for a given time.

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