Temporary differences very seldom reverse (i.e., turnaround)in one or more future reporting periods.

Question

Quizplus · Accepted Answer

Temporary differences are differences between the carrying amount of an asset or liability in the balance sheet and its tax base that will result in taxable or deductible amounts in future periods when the carrying amount of the asset or liability is recovered or settled. They are called "temporary" because they are expected to reverse in future reporting periods.

Temporary Differences Very Seldom Reverse (I