Permanent differences (between revenues and expenses for accounting and tax purposes): can cause Deferred Tax Liabilities...
Permanent differences (between revenues and expenses for accounting and tax purposes):
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can cause Deferred Tax Liabilities but not Deferred Tax Liabilities to arise |
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can cause neither Deferred Tax Assets nor Deferred Tax Liabilities to arise |
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can cause both Deferred Tax Assets and Deferred Tax Liabilities to arise |
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can cause Deferred Tax Assets but not Deferred Tax Liabilities to arise |
Homework Answers
ANSWER. B. an cause neither Deferred Tax Assets nor Deferred Tax Liabilities to arise
PERMANENT DIFFERENCE ARE DIFFERENCE THAT AFFECT ONLY ACCOUNTING INCOME OR TAXABLE INCOME NOT BOTH.
THERE WILL BE NO CREATION OF DEFERRED TAX ASSETS / LIABILITIES DUE TO PERMANENT DIFERRENCES. IT CAN ONLY AFFECT CURRENT INCOME TAXES.
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Permanent differences (between revenues and expenses for
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