Which of the Following Does Not Result in a Permanent

question 29

Multiple Choice

Which of the following does not result in a permanent book/tax difference?

• A)Tax-exempt interest on state and local bonds
• B)NOL carryforwards
• C)Domestic production activities deduction
• D)Lobbying expenses

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Definitions:

Cultural Products

Items or activities that arise from and reflect the customs, beliefs, and way of life of a society or group.

Openness To Experience

A personality trait that features characteristics such as imagination and insight, and a wide range of interests, as well as a willingness to try new things.

Socioeconomic Status

An economic and sociological combined total measure of a person's work experience and of an individual's or family's economic and social position relative to others, based on income, education, and occupation.

Education

The systematic process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through the means of instruction, training, or research.