The Most Common Difference Between Accounting Income and Taxable Income

question 79

True/False

The most common difference between accounting income and taxable income is that a corporation uses straight-line depreciation in its financial statements and accelerated depreciation in its tax return.

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Definitions:

Ventral Surface

The front or anterior part of the body in humans, or the lower or belly side in animals.

Cephalic

Pertaining to the head or the head end of the body.

Trapezius

A large, triangular muscle extending over the back of the neck and shoulders that moves the head and shoulder blade.

Distinct Muscles

Specific, individual muscles that are easily identifiable and separate from others in the body's muscular system.