For each item below, indicate whether it involves: (1) A temporary difference that will result in future deductible amounts; (2) A temporary difference that will result in future taxable amounts;

For some assets, straight-line depreciation is used for tax purposes while double-declining balance method is used for financial reporting purposes.

The company uses the percentage of complete method to record revenue on long-term contracts for financial reporting purposes, but the completed contract method is used for tax purposes.

also, explain why! thanks