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Goff Inc'S Taxable Income Is Computed as Follows

Question 70

Multiple Choice

Goff Inc.'s taxable income is computed as follows. Goff Inc.'s taxable income is computed as follows.   Goff's tax rate is 34%. Which of the following statements is true? A)  The permanent differences caused a $26,496 net increase in Goff's deferred tax liabilities. B)  The permanent differences caused a $26,496 net increase in Goff's deferred tax assets. C)  The temporary differences caused a $161,568 net increase in Goff's deferred tax assets. D)  The temporary differences caused a $161,568 net increase in Goff's deferred tax liabilities. Goff's tax rate is 34%. Which of the following statements is true?


A) The permanent differences caused a $26,496 net increase in Goff's deferred tax liabilities.
B) The permanent differences caused a $26,496 net increase in Goff's deferred tax assets.
C) The temporary differences caused a $161,568 net increase in Goff's deferred tax assets.
D) The temporary differences caused a $161,568 net increase in Goff's deferred tax liabilities.

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