Clayton Corporation receives $100,000 to provide garbage service for the next four years: a. Clayton must recognize
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Question:
Clayton Corporation receives $100,000 to provide garbage service for the next four years:
| a. | Clayton must recognize income over the four years for both tax and accounting purposes. |
| b. | Clayton can include the entire $100,000 in income currently for both tax and accounting purposes. |
| c. | The $100,000 creates a permanent difference between tax and accounting income. |
| d. | The $100,000 creates a timing difference between tax and accounting income. |
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