B&B Inc'S Taxable Income Is Computed as Follows

question 34

Multiple Choice

B&B Inc.'s taxable income is computed as follows. B&B's tax rate is 34%.Which of the following statements is true?

• A)The temporary differences caused a $272,714 net decrease in B&B's deferred tax liabilities.
• B)The permanent differences caused a $152,184 net increase in B&B's deferred tax assets.
• C)The permanent differences caused a $152,184 net decrease in B&B's deferred tax assets.
• D)The temporary differences caused a $272,714 net increase in B&B's deferred tax liabilities.

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Definitions:

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