Listed Below Are 5 Terms Followed by a List of Phrases

question 60

Multiple Choice

Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the most correct term.
-Permanent difference

• A)Is usually a revenue or expense item that is excluded or not deductible in determining taxable income.
• B)Is reduced by a valuation allowance if realization of future tax benefit is not more likely than not.
• C)Arises when future taxable amounts are created by temporary differences.
• D)Is the process of allocating income taxes among two or more reporting periods.
• E)Will always create a deferred tax asset.

---

Definitions:

Create

The act of bringing something new into existence, whether it's a physical object, an idea, or a piece of art.

Norms of News Coverage

The established practices and standards that guide how journalists and media outlets report and present news, including objectivity, balance, and fairness.

Journalists

People who gather, compose, or disseminate news or contemporary information to the general populace.

Industry

A sector of the economy that produces goods or provides services.