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It is important to distinguish between temporary and permanent book-tax differences for which of the following reasons? A) Temporary book-tax differences affect the computation of
It is important to distinguish between temporary and permanent book-tax differences for which of the following reasons?
A) Temporary book-tax differences affect the computation of taxable income whereas permanent differences do not
B) All corporations are required to disclose book-tax differences as permanent or temporary on their tax returns
C) Temporary book-tax differences will reverse in future years whereas permanent differences will not
D) Neither temporary nor permanent book-tax differences will reverse in future years
Please explain.
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