Which of the following is not a timing difference that would cause pretax financial accounting income to differ from taxable income?
A) Investment revenue is recognized under the equity method for financial reporting purposes but in a later period as dividends are received for income tax purposes.
B) Life insurance proceeds are received by a corporation upon the death of an insured employee of the corporation.
C) Rent received in advance is taxable when received but is not reported as revenue for financial reporting purposes until the service has actually been provided.
D) MACRS depreciation is used for income tax purposes, and straight-line depreciation is used for financial reporting purposes.
B
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Which of the following is true of consumer markets?
a. They deal with products or services that are meant for personal use. b. They do not sell goods that are sold in business markets. c. They exceed business markets by size in most countries. d. They focus primarily on facilitating an organization's operations.
A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________
A) modified rebuy B) new-task situation C) straight rebuy D) dual distribution channel E) exclusive distribution channel