All of the following would normally result in permanent differences between tax and financial accounting except:
A)Meal and entertainment expenses
B)Depreciation expense
C)Interest income on municipal bonds
D)Government fines

Question

Quizplus · Accepted Answer

Depreciation expense typically results in temporary differences, as the timing of expense recognition differs between tax and financial accounting, but the total amount recognized over time is the same.

All of the Following Would Normally Result in Permanent Differences