Which of the Following Does Not Result in a Permanent

question 35

Multiple Choice

Which of the following does not result in a permanent book/tax difference?

• A) Tax-exempt interest on state and local bonds
• B) NOL carryforwards
• C) Business entertainment expenses
• D) Lobbying expenses

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Definitions:

Savings Account

A bank account where people can deposit money to earn interest over time, with fewer withdrawal facilities.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.

Discouraged Workers

Individuals who have stopped looking for employment due to repeated failure to find work, and are no longer counted as part of the labor force.

Labor Force

The total number of people employed or actively seeking employment in a given country or region.