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Basic Question 2 of 13

Which of the following causes a permanent difference between taxable income and accounting profit?

A. Advance collection of revenues
B. MACRS depreciation used for plant assets
C. Interest income on municipal securities

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I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt

Martin Rockenfeldt

Learning Outcome Statements

explain how deferred tax liabilities and assets are created and the factors that determine how a company's deferred tax liabilities and assets should be treated for the purposes of financial analysis

CFA® 2024 Level I Curriculum, Volume 3, Module 9.