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As per accounting standard AS3, provision for taxation should be treated as

A. As a current liability

B. As an appropriation of profits

C. Either a or b

D. None of the above

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above