What Kinds of Temporary Differences Related to Income Taxes Can

question 45

Multiple Choice

What kinds of temporary differences related to income taxes can arise under IFRS that don't occur under U.S. GAAP?

• A) Book and tax differences related to the amortization of property, plant, and equipment for book purposes and cost method for tax purposes.
• B) Book and tax differences related to the calculation of impairments for book purposes with adjustment for tax purposes.
• C) Book and tax differences related to the revaluation of property, plant, and equipment for book purposes and cost method for tax purposes.
• D) Book and tax differences related to the calculation of contingent liability for book purposes with no like adjustment for tax purposes.

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Definitions:

LDL Cholesterol

LDL cholesterol, often referred to as "bad" cholesterol, is a type of fat in the blood that can build up in arteries, increasing the risk of heart disease.

HDL

High-density lipoprotein, often referred to as "good" cholesterol, which helps remove other forms of cholesterol from the bloodstream.

Bad Cholesterol

Low-density lipoprotein (LDL) cholesterol, which can build up in the walls of arteries and increase the risk of heart disease.

Acamprosate

A medication used to help maintain sobriety in individuals recovering from alcohol dependence by restoring the natural balance of neurotransmitters in the brain.