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A temporary difference is one that will reverse at some point in the future (i.e., depreciation when accelerated depr. is used for tax and straight line for books; most reserve items). A permanent difference will never turn around (i.e., meals and entertainment is an expense for books but can only be deducted up to 50% for tax).
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What is difference between temporary and permanent accounts?
Temporary = not permanent, for a limited time only Permanent = continuing, no changes... Im sure and hope you can figure this out =.=
What is the difference between temporary accounts and permanent accounts?
Temporary accounts are like your revenue, expense, owner's drawing accounts and the income summary. Permanent accounts are like your assets, liability, and most of owner's equity accounts.
Distinguish between accounting and book keeping?
distinguish between book keeping and accounting
What is Distinguish Between Accounting Convention And Aoncept?
Distinguish Between Accounting Convention And Aoncept
What is deffered taxation?
Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation
What does working capital management encompass?
distinguish between temporary and permanent working capital?
Difference between temporary and permanent working capital?
difference between temporary and permanent working capital needs
What is difference between temporary and permanent accounts?
Temporary = not permanent, for a limited time only Permanent = continuing, no changes... Im sure and hope you can figure this out =.=
Whats the definition of distinguish?
To distinguish between two things is the same as ppointing out the differences between two things.
What is the difference between a temporary permanent and foreign passport?
the difference between permanent passport and foreign passport
Difference between permanent current assets and temporary current assets?
permanent asset should be financed with permanent and spontaneous sources of financing,while temporary assets should be financed with temporary sources of financing.
What is the difference between permanent pole and temporary pole?
a Temporary Magnet lose its magnetism quickly, a Permanent Magnet is hard and it keeps it magnetism
What is the difference between temporary and permanent fixings?
one can be removed which is temporary and one can not be removed permannent
What are the differences between qualitative and quantitative models?
distinguish between qualitative and quantitative model
What is difference between mind and soul?
The mind is associated with cognitive functions like thinking, reasoning, and memory, while the soul is often believed to be the eternal, spiritual essence of a person. Some people view the mind as a product of brain activity, whereas the soul is considered a separate, metaphysical aspect of human existence.
What is the difference between a temporary slide and a permanent slide when using a microscope?
the difference is when a temporary slide has a germ it can come off and on a permanent slide has a germ on it it can't come off
What is the difference between guardian and permanent guardian?
A guardian is appointed by a court to make decisions on behalf of a minor or incapacitated adult. A permanent guardian is a type of guardian who is granted long-term or permanent authority over the ward's affairs, often until the ward reaches adulthood or the guardianship is terminated by the court.
