In 2023, the corporation's first year of operations, it incurs $20,000 of organization expenses. For...
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Accounting
In the corporation's first year of operations, it incurs $ of organization expenses. For book purposes, these expenses are deducted immediately. For tax purposes, the corporation elects to deduct $ and amortize the remainder over months. The booktax difference in is: an unfavorable temporary difference an unfavorable permanent difference a favorable temporary difference A favorable permanent difference 
In the corporation's first year of operations, it incurs $ of organization expenses. For book
purposes, these expenses are deducted immediately. For tax purposes, the corporation elects to
deduct $ and amortize the remainder over months.
The booktax difference in is:
an unfavorable temporary difference
an unfavorable permanent difference
a favorable temporary difference
A favorable permanent difference
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