See how our partners can help you ace your CFA exams.
CFA Level 1 Question of the Week - Financial Reporting and Analysis
Which of the following will most likely result in a permanent difference between taxable income and pre-tax income?
CFA Level 1 Question of the Week - Financial Reporting and Analysis 6 votes
A. A firm deducts warranty expenses from its income statement but does not deduct them from its tax statements until the receivables are deemed worthless.
B. A firm enjoys tax credits on the imports of certain medicines.
C. A firm uses different methods of depreciation for reporting purposes and tax purposes.