A temporary difference is a difference between tax and accounting income that will not reverse in a future period.

Name: A temporary difference is a difference between tax and accounting income that will not reverse in a future period.
Brand: Quizplus
Rating: 4.8 (28 reviews)

Question

Quizplus · Accepted Answer

A temporary difference is a difference between the book basis and tax basis of an asset or liability that will result in taxable or deductible amounts in future years when the asset is recovered or the liability is settled.

A Temporary Difference Is a Difference Between Tax and Accounting