Alabama Corp.'s taxable income differed from its accounting income for 2023. Accounting income includes an expense of $25,000 under meals and entertainment expense, with $3,000 of that total being spent on golf dues. What is the permanent and temporary difference respectively for Alabama?

Answer rating: 100% (QA)

In this case the 25000 expense under meals and entertainment is deductible for tax purposes but may ... View the full answer