When accounting standards require recognition of an expense that is not permitted under tax laws, the result
Question:
When accounting standards require recognition of an expense that is not permitted under tax laws, the result is a:
A. deferred tax liability.
B. temporary difference.
C. permanent difference.
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The correct answer is A Deferred Tax Liability This situation describes a timing difference between ...View the full answer
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Related Book For
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
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