Examlex
As a typical 80-year-old, Joan's ____ would have decreased significantly since she was 20.
Book Income
The income reported by a company in its financial statements, in contrast to taxable income calculated for tax purposes.
Taxable Income
is the amount of income used to calculate how much tax an individual or a company owes to the government, after all deductions and exemptions.
Temporary Difference
A difference between the book value and tax value of an asset or liability that results in taxable or deductible amounts in future years.
Tax Provision
An amount recorded in advance for expected future tax payments due to governmental regulations and business operations.
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