Clayton Corporation receives $100,000 to provide garbage service for the next four years:
A) Clayton must recognize income over the four years for both tax and accounting purposes.
B) Clayton can include the entire $100,000 in income currently for both tax and accounting purposes.
C) The $100,000 creates a permanent difference between tax and accounting income.
D) The $100,000 creates a timing difference between tax and accounting income.
Correct Answer:
Verified
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