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Question 1. 1. (TCO 1) Using straight-line depreciation for financial reporting purposes and MACRS for tax purposes in the first year of an asset’s life creates a (Points : 6)
future deductible amount.
permanent difference not requiring interperiod tax allocation.
deferred tax asset.
deferred tax liability.
Question 2. 2. (TCO 2) Eligibility requirements and the nature of benefits for postretirement healthcare plans usually are specified in the (Points : 6)
written plan.
informal plan.
substantive plan.
severance plan.