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

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.

Solutions

Expert Solution

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

(d) depreciation of long-term assets.

Sometime Depreciation method adopt by a company may be different from the Income Tax point of view.

Hence amount of deduction taken by company should be different from amount aloowed by Income Tax

ekkarill92 answered 1 year ago

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