Revenue recognized for financial reporting purposes that will never be taxable is:

Answer

a temporary difference.

a permanent difference.

either a temporary difference or a permanent difference.

a good example of tax fraud.

Machinery was acquired at the beginning of the year. Depreciation recorded during the life of the machinery could result in Future taxable amounts and Future deductible amounts

Answer

		Yes for taxable and Yes for deductible
		Yes for taxable and No for deductible
		No for taxable and Yes for deductible
		No for taxable and No for deductible