Which of the Following Items Results in a Temporary Difference

question 36

Multiple Choice

Which of the following items results in a temporary difference taxable 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:

Systematic Desensitization

A psychotherapy technique aimed at reducing anxiety or fear by gradually exposing the patient to the anxiety source.

Fear-Inducing Stimuli

Objects, events, or situations that elicit a fear response, often used in psychological research or therapy.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Antidepressant Drugs

Medications used to treat depressive disorders by adjusting chemicals in the brain that affect mood and emotions.