Which of the Following Describes a Temporary Difference

question 49

Multiple Choice

Which of the following describes a temporary difference?

• A)A difference that will be corrected in an amended tax return.
• B)A difference arising from an uncertain tax position.
• C)A fundamental difference in what constitutes revenue or expense for GAAP and tax purposes.
• D)A timing difference between the recognition of revenue or expense under GAAP and tax purposes.

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Definitions:

Preplanning An Agenda

The act of organizing and outlining the topics, discussions, and activities to be covered in a meeting or event before it takes place.

Family Home

A dwelling where members of a family reside, offering a stable and nurturing environment.

Three-Way Conference

A meeting involving the student, teacher, and parent(s) to discuss the student's progress, strengths, and areas for improvement.

Guidance Counselor

A professional who provides students with academic, career, and personal/social advice and guidance.