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.
Correct Answer:
Verified
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