Finals in Conceptual Framework

I. Identify the following.

1.Assistance by government in cash or kind to an enterprise for past or future compliance with certain
condition.

2. Expense or the amount of income tax actually payable.

3. An accounting that is applicable to all entities whether public or non public.

4. Plan that enable individual employees to choose the benefits that are best suited to their particular
needs.

5. A pension plan where contributions are made solely by the employer.

6. Any increase or decrease in the value of an asset.

7. Expected to be use for more than one period.

8. An early retirement incentive in the form of increased pension benefits for several years or a cash
bonus.

9. The cost of the asset must be _______________.

10. Government grants such as land, or other resources given at concessional rates.

II. ESSAY (5 points each)

1. What is deffered tax? How it is use?

2. Can you give 5 exanple of property, plant and equipment and identify if your example is property,
plant or equipment.

3. Choose one of the benefits that we discuss and explain why this benefits is important.

4. What is the primary role of government grant in the business?