Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence. Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing. To determine the statement that is correct with regard to IFRS and GAAP.

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Answer 1

Question

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

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Answer 2

Question

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

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Answer 3

Question

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

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Answer 4

Question

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

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Answer 5

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

Answer 6

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

Answer 7

Chapter 19, Problem 2IST

To determine

Affirmative judgment approach: The approach which rely the transaction based on the probability of happening is affirmative judgment approach. According to IFRS, the deferred tax transactions are computed based the probability of happening and the full amount of the transaction is reduced to the value of probable occurrence.

Impairment judgment approach: This approach considers the full value of the transaction and then reduces according to the value probable to be realized is called impairment approach. This approach admits the full value and then reduces according to the fact prevailing.

To determine the statement that is correct with regard to IFRS and GAAP.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 19 - Prob. 1Q Ch. 19 - Prob. 2Q Ch. 19 - Prob. 3Q Ch. 19 - Prob. 4Q Ch. 19 - Prob. 5Q Ch. 19 - Prob. 6Q Ch. 19 - Prob. 7Q Ch. 19 - Prob. 8Q Ch. 19 - Prob. 9Q Ch. 19 - Prob. 10Q

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Chapter 19 Solutions