Which statement is false? a. Corporate income tax is an expense, not a distribution of the profits
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Question:
Which statement is false?
a. Corporate income tax is an expense, not a distribution of the profits to the government.
b. In general, temporary differences result from timing differences between GAAP and tax regulations.
c. Non-taxable revenue causes permanent differences between pretax accounting income and taxable income.
d. Non-tax-deductible expense causes the temporary difference.
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