3. (TCO 1) Which temporary difference ordinarily creates a deferred tax asset? (Points : 4) Completed-contract method for long-term construction contracts for tax reporting Subscriptions collected in advance Accelerated depreciation for tax reporting Installment sales for tax reporting

Question 4. 4. (TCO 1) Under current tax law, a net operating loss may be carried forward up to (Points : 4)

5 years. 10 years. 15 years. 20 years.

Question 5. 5. (TCO 1) Which causes a permanent difference between taxable income and pretax accounting income? (Points : 4)

Advance collections of revenues MACRS depreciation method used for equipment The installment method used for sales of merchandise Interest earned on municipal securities

answer 3 questions choose abcd, then i give thumbs up