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3. Deferred tax assets and deferred tax liabilities arise from: a. Permanent differences between book and tax income. b. Agreements between companies and the Internal
3. Deferred tax assets and deferred tax liabilities arise from: a. Permanent differences between book and tax income. b. Agreements between companies and the Internal Revenue Service to pay taxes currently owed on the installment basis. c. Future taxable and future deductible items, respectively. d. Future deductible and future taxable items, respectively. e. All of the above. 4. Kobo Roger Corp.'s taxable income differed from its accounting income computed for this past year. An item that would create a permanent difference in accounting and taxable incomes for Roger would be a. A balance in the Unearned Rent account at year end b. Using accelerated depreciation for tax purposes and straight-line depreciation for book purposes c. A fine resulting from violations of OSHA regulations d. Making installment sales during the year
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