Loda Inc. made an $8,300 nondeductible charitable contribution and a $2,000 nondeductible political contribution this year. Which of the following statements is true?
A. Both nondeductible contributions are permanent book/tax differences.
B. The nondeductible charitable contribution is a permanent book/tax difference. The nondeductible political contribution is a temporary book/tax difference.
C. Both nondeductible contributions are temporary book/tax differences.
D. The nondeductible charitable contribution is a temporary book/tax difference. The nondeductible political contribution is a permanent book/tax difference.
Answer: D
You might also like to view...
The employer's goal in the initial screening interview is to
A) find your greatest strengths in depth. B) filter out applicants who are not a good fit for the position. C) make offers to the best candidates. D) learn as much detail as possible about candidates. E) determine how interested candidates really are in the position.
Net price is the standard price charged to customers.
Answer the following statement true (T) or false (F)
The balanced scorecard ______.
a. is focused only on financial measures b. is useful only for manufacturing organizations c. is used by profit, nonprofit, and governmental organizations worldwide d. was very popular in the 1940s
How much time is a customer expected to spend waiting in line and being checked out?
The local grocery store consists of two cashiers. The customers arrive at the checkout according to the Poisson distribution and the service times are based on negative exponential distribution. The average customer service time is 4 minutes and the average time between the arrivals of successive customers is 3 minutes. Assume that customers equally divide themselves between the two cashiers.