Which of the Following Statements Describes a Permanent Book/tax Difference

question 53

Multiple Choice

Which of the following statements describes a permanent book/tax difference?

• A)An expense reported on the current income statement but deducted on next year's tax return
• B)A revenue item included in current taxable income but not reported on the income statement until next year
• C)An expense that is never deductible
• D)A revenue item reported on the current income statement but not included in taxable income until an indefinite future year

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Definitions:

Persuasion

The act of influencing someone's beliefs, attitudes, intentions, motivations, or behaviors through argument, reasoning, or appeal.

Speaker's Appearance

The physical look of a speaker, which can influence audience perception and reception of the message communicated.

Cognitive Dissonance

Cognitive dissonance is a psychological concept describing the discomfort experienced when holding contradictory beliefs, values, or attitudes, typically leading to a change in one of them to reduce the dissonance.

Attitudes

are psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.