Identify the Following Items as Creating a Temporary Difference, Permanent

question 70

Essay

Identify the following items as creating a temporary difference, permanent difference, or no difference. $$\begin{array} { | l | l | l | l | } \hline { \text { Item } } & \begin{array} { l } \text { Temporary } \\\text { Difference }\end{array} & \begin{array} { l } \text { Permanent } \\\text { Difference }\end{array} & \begin{array} {c } \text { No} \\\text { Difference }\end{array} \\\hline \text { Reserve for bad debts } & & & \\\hline \text { Accrued other post-employment benefits } & & & \\\hline \text { Domestic production activities deduction } & & & \\\hline \text { Non-deductible fines and penalties } & & & \\\hline \text { Interest from municipal bonds } & & & \\\hline \text { Net operating loss carryover } & & & \\\hline \text { Stock option expense under ASC } 718 & & & \\\hline \text { Deferred compensation } & & & \\\hline\end{array}$$

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Definitions:

Clinic

A healthcare facility that is primarily focused on the care of outpatients, offering services such as diagnosis, treatment, and patient consultation.

Public Service Announcement

A public service announcement (PSA) is a message broadcasted to the public to inform about and promote awareness on important social, health, or safety issues.

Smokey the Bear

An advertising mascot created to educate the public about the dangers of forest fires and promote forest fire prevention in the United States.

Forest Fires

Uncontrolled fires in areas of combustible vegetation, often exacerbated by dry conditions, lightning, or human activities.