All of the following are examples of temporary book-tax differences except ________.

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Payment of premiums for life insurance results in a permanent book-tax difference, as the premiums are not deductible for tax purposes but rather, reduce the book value of the asset. Contingent liabilities, depreciation, and product warranty costs are examples of temporary book-tax differences, as they result in differences between book and taxable income in the current period but are expected to reverse in a later period.

All of the Following Are Examples of Temporary Book-Tax Differences