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Which is true regarding permanent differences

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Reference no: EM132828405

Problem 1: Which of the following is true regarding permanent differences?

Option 1: Permanent differences are permanent for two years but eventually reverse.

Option 2: Permanent differences cause a company's effective tax rate to be different than the statutory tax rate.

Option 3: Permanent differences must affect both a corporation's reported pretax financial income and its taxable income.

Option 4: all of these choices are true.

Reference no: EM132828405

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