Caesar Corporation reports municipal interest income on their financial statements. What (if any) book-tax difference will result?
A) Temporary difference - book income greater than taxable income.
B) Temporary difference - taxable income greater than book income.
C) Permanent difference - book income greater than taxable income.
D) No difference - municipal interest is taxable income.
Answer: C
Business
You might also like to view...
The management function most often confused with public relations is:
A. Advertising D. Marketing B. Lobbying E. Development C. Personnel
Business
The following is an example of fully protected speech:
A) Commercial speech. B) Political speech. C) Defamatory speech. D) Offensive speech.
Business