A Corporation Generally Will Report a Favorable, Temporary Book-Tax Difference

question 35

True/False

A corporation generally will report a favorable, temporary book-tax difference when it deducts a charitable contribution carryover.

---

Definitions:

Gearbox

In a steering mechanism, the use of gears to increase the mechanical advantage and decrease driver effort in turning the steering wheel while converting the wheel’s motion into motion that moves the vehicle’s front wheels.

U-joint

A universal joint, a flexible pivot point that transmits power allowing for varying angles of the drive shaft.

Steering Assembly

The collection of components in a vehicle that allows the driver to guide and direct the vehicle in the desired direction.

Parallelogram Linkage

A linkage in the form of a parallelogram that connects a recirculating ball gearbox to the steering knuckle.