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When accounting for income taxes, a permanent difference occurs in which of the following scenarios? Multiple Choice The accrual method of accounting is used. An
When accounting for income taxes, a permanent difference occurs in which of the following scenarios?
Multiple Choice
The accrual method of accounting is used.
An item is included in the calculation of net income in one year and in taxable income in a different year.
An item is included in the calculation of net income, but is neither taxable nor deductible.
An item is treated identically for financial and for tax purposes.
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