Under Ind AS 12 a temporary difference is defined as | Faculties

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Mr. Dubey

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Q. Under Ind AS 12 a temporary difference is defined as

(A) the difference between the tax base of an item and that items carrying amount in the balance sheet
(B) the difference between the carrying amount of an item and that items fair value less costs to sell
(C) the difference between the carrying amount of an item and that items revalued amount
(D) a difference which will reverse in the next accounting period

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✅ Correct Answer: (C) the difference between the carrying amount of an item and that items revalued amount

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