Which of the Following Items Is Not a Permanent Book/tax

question 33

Multiple Choice

Which of the following items is not a permanent book/tax difference?

• A) Tax-exempt life insurance proceeds.
• B) Non-deductible meals and entertainment expense.
• C) Accrued vacation pay liability not paid within the first 2½ months of the next tax year.
• D) Domestic production activities deduction.

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Definitions:

Allocated

Distributed or assigned for a specific purpose or to a particular person.

Compute

To calculate or process information, often using a computer or mathematical algorithms.

Company Earned

The total revenue or profit generated by a company over a specific period.

Store Owner

An individual or entity that owns and manages a retail business establishment.