Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 2

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51. Which of the following items are excluded from the explanation of the relationship between income tax expense and prima facie tax on profit (ie accounting profit multiplied by the applicable rate)?
I Building depreciation
II Bad debts expense
III Exempt income
IV Loss from change in tax rate
V Annual leave expense
VI Entertainment expense

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52. The revaluation under AASB 116 Property, Plant and Equipment apply to:

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54. The accepted method of accounting for a business combination under AASB 3 Business Combinations is:

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55. Which of the following statements about the requirements of AASB 3 Business Combinations is incorrect?

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