Question: Which of the following would not create a temporary difference? Multiple Choice A revenue included in the determination of book income this year but not

Which of the following would not create a temporary difference?

Multiple Choice

  • A revenue included in the determination of book income this year but not included in taxable income until next year

  • A revenue included in the determination of book income this year but never included in taxable income

  • An expense included in the determination of taxable income this year but not included in book income until next year

  • A revenue item that causes book income to be more (less) than taxable income when it is initially recorded

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

TB MC Qu . 1 4 - 2 4 Which of the following would not... Which of the following would not create a temporary difference? Multiple Choice An expense included in the determination of taxable income...

Q:

TB MC Gu . 1 4 - 2 4 Which of the following would not... Which of the following would not create a temporary difference? Multiple Cholce A revenue item that causes book income to be more ( less )...

Q:

Which of the following would not create a temporary difference? Group of answer choices A revenue included in the determination of book income this year but not included in taxable income until next...

Q:

Which of the following statements describes a permanent book / tax difference? Multiple Choice An expense reported on the current income statement but deducted on next year's tax return A revenue...

Q:

Which of the following statements describes a permanent book / tax difference? Multiple Choice An expense reported on the current income statement but deducted on next year's tax return A revenue...

Q:

The information provided in this test allows you to set up all ledgers for an Ontario company named DERMAL DECOR. Dermal Decor specializes in high quality aesthetic body art with sterile equipment....

Q:

Which of the following items does not create a temporary difference between book income and taxable income? An expense included in taxable income in the current year that is not included in book...

Q:

1. Corresponds to CLO 1(a) West Coast Corporation had 800,000 shares of common stock outstanding on January 1, issued 200,000 shares on October 1, and had income applicable to common stock of...

Q:

Question 1 Question 2 Question 3 3. PAYG income tax instalments paid during the year were: $7000 30 September 20x7 31 December 20X7 31 March 20X8 $9000 $6400 4. The income tax rate is 30%. Required:...

Q:

On 30 June 2020, Kerry Ltd leased a motor vehicle to Perry Ltd. Kerry Ltd had purchased the motor vehicle on that day for its fair value of $136 692. The lease agreement cost Kerry $3318 to have...

Q:

The Spurling Group is considering using magazine outlets to advertise their online Web site. The company has identified seven publishers. Each publisher breaks down its subscriber base into a number...

Q:

Using the sigma function on the calculator; calculate midpoint : Left end point and Right end point of each given that the value of 77 = 10, 100, 1000, 5000, 10,000

Q:

48. A study of job satisfaction was conducted for four occupations. Job satisfaction was measured using an 18-item questionnaire with each question receiving a response score of 1 to 5 with higher...

Q:

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Q:

How can you build on or depart from what is already being done in another community?

Q:

What are some of the possible scenes from our future?

Q:

2. Review the material on coping mechanisms. How might you substitute positive coping strategies for negative ones? Are your preferred coping strategies of a particular type (e.g., emotional,...