Permanent Tax Differences Are Revenues and Expenses

question 25

Multiple Choice

Permanent tax differences are revenues and expenses:

• A) that firms include in income tax returns, but do not appear in the income statement.
• B) that are included in both the tax return and income statement, but in different accounting periods.
• C) that firms include in the income statement, but do not appear in income tax returns.
• D) that are not included in either the tax return or the income statement.

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