An item that is considered a nondeductible item in taxable income is recognizing estimated bad debts expense for financial accounting purposes and direct write off method for tax purposes. O paying fines for violation of laws. accrual warranty costs recognized for financial accounting purposes and actual warranty expenditures paid recognized for tax purposes. recognizing rent income on a time proportion basis for financial accounting purposes and cash basis for tax purposes.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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An item that is considered a nondeductible item in taxable income is *
recognizing estimated bad debts expense for financial accounting purposes and direct write off method for
tax purposes.
O paying fines for violation of laws.
accrual warranty costs recognized for financial accounting purposes and actual warranty expenditures paid
recognized for tax purposes.
o recognizing rent income on a time proportion basis for financial accounting purposes and cash basis for tax
purposes.
Transcribed Image Text:An item that is considered a nondeductible item in taxable income is * recognizing estimated bad debts expense for financial accounting purposes and direct write off method for tax purposes. O paying fines for violation of laws. accrual warranty costs recognized for financial accounting purposes and actual warranty expenditures paid recognized for tax purposes. o recognizing rent income on a time proportion basis for financial accounting purposes and cash basis for tax purposes.
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