true false O Tax-exempt interest from municipal bonds is an example of a permanent book-tax 9) difference OO true false 10) Temporary differences create either a deferred tax asset or a deferred tax liability. 10) Oo true false 11) Which of the following does NOT create a permanent book-tax difference? 11) A) Organizational and start-up expenses B) Key employee death benefit income C) Fines and penalties expenses D) Municipal bond interest income 12) Which of the following does NOT create a temporary book-tax difference? 12)