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Eddy Corporation engaged in a transaction that generated $100000 book income but only $81000 taxable income Which of the following is true If the $19000 excess of book income over taxable income

Eddy Corporation engaged in a transaction that generated $100,000 book income but only $81,000 taxable income. Which of the following is true?

If the $19,000 excess of book income over taxable income is temporary, the transaction has no effect on Eddy's deferred tax accounts.

The $19,000 excess of book income over taxable income is an unfavorable difference.

If the $19,000 excess of book income over taxable income is permanent, the transaction has no effect on Eddy's deferred tax accounts.

None of the above is true.

 

Apr 23 2020 View more View Less

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