Post Utme Bowen University 2020 Accounting Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2020 Accounting Objective / Multiple Choice
Question 24 POST_UTME_BOWEN_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's financial statements show a net income of ₦300,000. However, the company's tax return shows a tax liability of ₦100,000. What is the reason for the difference?

Answer Options

Correct Answer A. The company has claimed a tax deduction of ₦100,000.
B. The company has paid a tax penalty of ₦100,000.
C. The company has received a tax refund of ₦100,000.
D. The company has not remitted the tax liability.
Correct Answer
A
Correct Option:
The company has claimed a tax deduction of ₦100,000.

About This Question

This is Post Utme Bowen University 2020 Accounting Question 24. It is one of the objective questions from the 2020 Post Utme Bowen University Accounting examination.

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