Which of the Following Describes a Temporary Difference

question 49

Multiple Choice

Which of the following describes a temporary difference?

• A)A difference that will be corrected in an amended tax return.
• B)A difference arising from an uncertain tax position.
• C)A fundamental difference in what constitutes revenue or expense for GAAP and tax purposes.
• D)A timing difference between the recognition of revenue or expense under GAAP and tax purposes.

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Definitions:

Chatbot Services

Online services that provide automated chat interfaces for customer support, information retrieval, or other interactive communication tasks.

Credit Card Fraud

Illegal activities involving the unauthorized use of someone else's credit card information to steal money or purchase goods and services.

Data Analytics

The process of examining data sets to conclude the information they contain, increasingly aided by specialized systems and software.

PCI Compliance

The adherence to a set of security standards designed to protect credit card information during and after a financial transaction.