Among the following transactions: municipal bond income. accrual of a loss contingency. a balance in the Unearned Rent account at year end. a fine resulting from violations of regulations. Which one(s) will result in a permanent difference in pretax financial income and taxable income?  Enter 1, 2, 3, or 4 that represents the correct answer. b & c. d only. a & d. a, c, & d.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Among the following transactions:

  1. municipal bond income.
  2. accrual of a loss contingency.
  3. a balance in the Unearned Rent account at year end.
  4. a fine resulting from violations of regulations.

Which one(s) will result in a permanent difference in pretax financial income and taxable income?  Enter 1, 2, 3, or 4 that represents the correct answer.

  1. b & c.
  2. d only.
  3. a & d.
  4. a, c, & d.

 

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