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:

Mucopurulent Discharge

A type of bodily fluid that is thick, contains mucus, and pus, and is often a sign of infection or inflammation.

Trichomoniasis

A sexually transmitted infection caused by the parasite Trichomonas vaginalis, leading to symptoms such as itching, burning, and unusual discharge in affected individuals.

Genital Warts

A common sexually transmitted infection caused by certain types of human papillomavirus (HPV), resulting in fleshy growths on the genitals.

Human Papillomavirus (HPV)

A group of viruses that can cause genital warts and are associated with the development of various cancers, particularly cervical cancer.