Accounting methods used by a company to determine income

Reference no: EM13584207

1. Accounting methods used by a company to determine income for financial reporting purposes frequently differ from those used to determine taxable income. What is the justification for these differences?

2. Distinguish between a nondeductible expense and a temporary difference that results in a taxable income greater than pretax financial income reported in the income statement?

Reference no: EM13584207

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