Goff Inc'S Taxable Income Is Computed as Follows

question 104

Multiple Choice

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

• A) The permanent differences caused a $26,496 net increase in Goff's deferred tax liabilities.
• B) The permanent differences caused a $26,496 net increase in Goff's deferred tax assets.
• C) The temporary differences caused a $161,568 net increase in Goff's deferred tax assets.
• D) The temporary differences caused a $161,568 net increase in Goff's deferred tax liabilities.

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Definitions:

NLRB

National Labor Relations Board, a US federal agency that enforces US labor law in relation to collective bargaining and unfair labor practices.

Collective Bargaining

The process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment.

Disparate Treatment

A form of discrimination where individuals are treated differently based on prohibited factors such as race, gender, age, etc., in similar situations.

Discriminatory Conduct

Actions or behaviors that unjustly differentiate among individuals, often based on race, age, sex, or religion.