One Example of a Temporary Difference Between Financial and Tax

question 143

Multiple Choice

One example of a temporary difference between financial and tax reporting results from

• A)rent expense.
• B)tax-exempt interest from municipal bonds.
• C)life insurance proceeds resulting from the death of an executive.
• D)depreciation of long-term assets.

---

Definitions:

Fear Of Success

Belief that if one succeeds at an important task, one will be asked to take on more responsibility in the future

Procrastinate

The action of delaying or postponing tasks, often leading to stress, anxiety, and reduced productivity.

Unwanted Responsibilities

Tasks or duties that are assigned or expected of an individual but are not desired or welcomed by them.

Minimize Procrastination

Refers to strategies and techniques employed to reduce the tendency to delay tasks that need to be accomplished.