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QUESTION 10 CAT Inc. sold some of its heavy machinery at a gain. If accumulated depreciation for financial accounting purposes is larger than accumulated
QUESTION 10 CAT Inc. sold some of its heavy machinery at a gain. If accumulated depreciation for financial accounting purposes is larger than accumulated depreciation for tax purposes at the time of sale, what is the nature of the book-tax difference associated with the gain on the sale? a. Temporary; unfavorable b. permanent: unfavorable C. Permanent: favorable d. Temporary; favorable QUESTION 11 In 2021, SCH Corporation reported $150,000 gross income from operations. $12,000 capital gains, and $180.000 ordinary business expense deductions SCH also has $7.000 net capital loss carryover and $5.000 net operating loss carryover from 2020. What is SCH's net operating loss in 20217 a. (30,000) b. (18.000) c. (25.000) O d. (20.000)
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