Temporary differences arise when there is a difference between the tax base and the carrying amount of assets and liabilities. Permanent differences are differences between the tax and financial reporting of revenue or expense items which will not be reversed in future.
<h3>What do you mean by temporary differences?</h3>
Temporary differences are defined as being differences between the carrying amount of an asset or liability in the statement of financial position and its tax base (ie the amount attributed to that asset or liability for tax purposes).
<h3>What causes a temporary difference?</h3>
Thus, when the tax bases are indexed for inflation, temporary differences arise as a result of the change in tax basis and those differences give rise to deferred taxes under ASC 740-10-25-20(g).
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Answer:
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Explanation:
can you add pictures doesn't make sense no answers?
Answer: C(x) = 2.08 + 500x
Explanation:
Given the following :
Cost component of picture frame :
Glass = $0.45
Wooden frame = $0.68
Assembly = $0.95
Assembly desk and tools = $500
Using the linear cost function :
C(x) = mx + b
C(x) = total cost
b = fixed cost
mx = variable cost
b = cost of glass + wooden frame + assembly
b = $(0.45 + 0.68 + 0.95) =$2.08
mx = (cost of assembly desk and tools * number produced) = 500x
C(x) = 2.08 + 500x
Answer: Meat packing plant
Explanation:
The options to the question are:
A. California wine grower
B. meat packing plant
C. horticultural nursery
D. Florida orange grove
E. none of the above
Of all the options given in the question, the correct answer is meat packing plant. It should be noted that the meat packaging plant will not be part of the production sector due to the fact that no productive activities are taking place, it only involves in services.