Because Palmer and longtime partner Ed Seay didn't do typical resort golf at Turtle Bay Resort; they built a tournament course. It is no wonder that the golf course, one of two 18-hole layouts at the resort, is the current host of the LPGA's SBS Open and former site of a Champions Tour event.
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). 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).
1 Approved Answer. Answer: Accounts are classified into two categories astemporary accounts and permanent accounts. Temporary accounts are periodic accounts and close by transferring to income statement at the end of period while permanent accounts are not closed by transfer to income statement rather these accounts are carried to subsequent period. Real and personal accounts are classified as permanent accounts....