Explain a permanent book and tax difference

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Reference no: EM1342683

Explain a permanent book / tax difference

Which of the following statements describes a permanent book/tax difference?

A. An expense that is reported on this year's income statement but is deducted on next year's tax return

B. A revenue item that is included in current year taxable income but is not reported on the income statement until next year

C. An expense that is never deductible

D. A revenue item that is reported on this year's income statement but will not be included in taxable income until an indefinite future year.

Reference no: EM1342683

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