0
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).
What else can I help you with?
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 =.=
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 featurns can be used to distinguish between an animal cell and a plant cell?
The major differences are the cell wall in the plant cell is not present in the animal cell, the other major difference is that an animal cell has no permanent vacuole.
What is the differences between permanent tattoo and non permanent tattoo?
The permanent tattoo will stay on your body for good. While non permanent tattoo willdisapear after a while.
Are hydrogen bonds temporary or permanent?
Hydrogen bonds are temporary interactions between hydrogen atoms and other electronegative elements like oxygen or nitrogen. They are not permanent bonds like covalent bonds, and can be easily broken and reformed.
Is life longer than death?
** Life is a temporary phenomenon- A duration between birth and death. Death is permanent. And we all know that what is permanent is longer than what is but temporary.... So life is not longer than death...
