Which of the Following Items Results in a Temporary Difference

question 53

Multiple Choice

Which of the following items results in a temporary difference deductible amount for a given year?

• A) Premiums on officer's life insurance (company is beneficiary)
• B) Premiums on officer's life insurance (officer is beneficiary)
• C) Vacation pay accrual
• D) Accelerated depreciation for tax purposes;straight-line for financial reporting purposes

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Definitions:

Carbaminohemoglobin

Hemoglobin carrying carbon dioxide.

Carbon Dioxide

A colorless, odorless gas produced through cellular respiration and combustion, utilized by plants in photosynthesis to produce oxygen.

Sinusitis

Inflammation of the cranial sinuses in the head.

Otitis Media

An inflammation of the middle ear, typically associated with fluid buildup and often causing earache and temporary hearing loss.