Which of the Following Statements Is True

question 65

Multiple Choice

Which of the following statements is true?

• A)Another name for a taxable temporary difference is an unfavorable difference.
• B)Another name for a taxable temporary difference is a favorable difference.
• C)Another name for a deductible temporary difference is a favorable difference.
• D)Another name for a deductible temporary difference is a permanent difference.

---

Definitions:

Periodic Tenancy

The tenancy that exists when the landlordand tenant agree that rent will be paid in regular successive intervals until notice to terminate is given but do not agree on a specific duration of the lease. A typical periodic tenancy is atenancy from month to month.

Month-To-Month Lease

A rental agreement that renews each month automatically until either the tenant or landlord provides notice to terminate.

Duty To Mitigate

The legal obligation to make reasonable efforts to minimize the damage caused by a breach of contract or other wrongful act.

Damages

Compensation sought or awarded in a legal process for loss or injury that has been suffered by an individual or entity.