Which of the following is not considered a permanent difference?
a. Interest received on municipal bonds.
b. Fines resulting from violating the law.
c. Premiums paid for life insurance on a company's CEO when the company is the beneficiary.
d. Stock-based compensation expense.
Answer: d. Stock-based compensation expense.
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On November 1, 2016, EZ Products borrowed $64,000 on a 5%, 5-year note with annual installment payments of $12,800 plus interest due on November 1 of each succeeding year
On November 1, 2018, what is the balance of the Long-Term Notes Payable account? (Round your answer to nearest whole number.) A) $38,400 B) $64,000 C) $51,200 D) $12,800
Which of the following financial statements is a position statement?
A) Balance sheet B) Statement of cash flows C) Statement of retained earnings D) Income statement E) None of the above