Question: Identify the following items as creating a temporary book-tax difference, permanent book-tax difference, or no book-tax difference. Temporary Difference Permanent No Difference Item Difference Reserve

Identify the following items as creating a temporary book-tax difference, permanent book-tax difference, or no book-tax difference.

Temporary Difference Permanent No Difference Item Difference Reserve for warranties Accrued pension liability Goodwill not amortized for tax purposes but subject to impairment under ASC 350 Meal and entertainment expenses Life insurance proceeds Net capital loss carryover Nondeductible fines and penalties Accrued vacation pay liability paid within the first two and one-half months of the next tax year

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