What kinds of temporary differences related to income taxes can arise under IFRS that dont occur under U.S. GAAP?
A. book and tax differences related to the revaluation of property, plant, and equipment for book purposes and cost method for tax purposes.
B. book and tax differences related to the calculation of impairments for book purposes with no like adjustment for tax purposes.
C. both (A) and (B)
D. use of the LIFO inventory method for book purposes and the FIFO inventory method for tax purposes.
Answer:C
What kinds of temporary differences related to income taxes can arise under IFRS that dont occur under U.S. GAAP?
A. book and tax differences related to the revaluation of property, plant, and equipment for book purposes and cost method for tax purposes. B. book and tax differences related to the calculation of impairments for book purposes with no like adjustment for tax purposes. C. both (A) and (B) D. use of the LIFO inventory method for book purposes and the FIFO inventory method for tax purposes.