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Which of the following is NOT a true statement regarding working with couple or family clients via videoconference or related technology?
Warranty Expense
Costs incurred by a company due to repairing or replacing products under warranty.
Bad Debts Expense
An expense reported on the income statement, representing the money lost by a business from non-recoverable credit sales.
Temporary Differences
Differences between the carrying amount of assets or liabilities and their tax bases, which will result in taxable or deductible amounts in the future.
Permanent Differences
Permanent differences are disparities between taxable income and accounting income that arise from certain transactions and events, which will not reverse in the future.
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