Which of the following circumstances creates a future, Ask an Expert

Accounting

Which of the following circumstances creates a future taxable amount?

a. Service fees collected in advance from customers: taxable when received, recognized for financial reporting when earned.

b. Accrued compensation costs for future payments.

c. Straight-line depreciation for financial reporting and accelerated depreciation for tax reporting.

d. Investment expenses incurred to obtain tax-exempt income (not tax deductible)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971783

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