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McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068 Exercise 38
Which of the following book-tax differences does not create a favorable temporary book-tax basis difference?
a.Tax depreciation for the period exceeds book depreciation
b.Bad debts charged off in the current period exceed the bad debts accrued in the current period
c.Inventory costs capitalized under §263A deducted as part of current year tax cost of goods sold are less than the inventory costs capitalized in ending inventory
d.Vacation pay accrued for tax purposes in a prior period is deducted in the current period
e.All of the above create a favorable temporary book/tax temporary difference
a.Tax depreciation for the period exceeds book depreciation
b.Bad debts charged off in the current period exceed the bad debts accrued in the current period
c.Inventory costs capitalized under §263A deducted as part of current year tax cost of goods sold are less than the inventory costs capitalized in ending inventory
d.Vacation pay accrued for tax purposes in a prior period is deducted in the current period
e.All of the above create a favorable temporary book/tax temporary difference
Explanation
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Verified
Inventory costs capitalised under § 263A...
McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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