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Identify the Following Items as Creating a Temporary Difference, Permanent

Question 87

Essay

Identify the following items as creating a temporary difference, permanent difference, or no difference.  Item  Temporary  Difference  Permanent  Difference  No Difference  Reserve for bad debts  Accrued other post-employment benefits  Domestic production activities deduction  Non-deductible fines and penalties  Interest from municipal bonds  Net operating loss carryover  Stock option expense under ASC 718 Deferred compensation \begin{array} { | l | l | l | l | } \hline { \text { Item } } & \begin{array} { l } \text { Temporary } \\\text { Difference }\end{array} & \begin{array} { l } \text { Permanent } \\\text { Difference }\end{array}& \begin{array} { c} \text { No} \\\text { Difference }\end{array}\\\hline \text { Reserve for bad debts } & & & \\\hline \text { Accrued other post-employment benefits } & & & \\\hline \text { Domestic production activities deduction } & & & \\\hline \text { Non-deductible fines and penalties } & & & \\\hline \text { Interest from municipal bonds } & & & \\\hline \text { Net operating loss carryover } & & & \\\hline \text { Stock option expense under ASC } 718 & & & \\\hline \text { Deferred compensation } & & & \\\hline\end{array}

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