Dante Inc. reported fines and penalties on their income statement this year. What (if any) book-tax difference will result?
A) Temporary difference; book income less than taxable income.
B) Permanent difference; book income greater than taxable income.
C) Permanent difference; book income less than taxable income.
D) No difference; fines and penalties are tax deductible.
Correct Answer:
Verified
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