1) All of the following are permanent differences between book and tax.docx

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1) All of the following are permanent differences between book and tax income except ? -Municipal Bond Interest Income -Meals & Entertainment Expenses -Bad Debt Expense -Political Contributions and Lobbying Expenses 2) The materiality principle (which items must be large enough to make a difference in the decision-making of stakeholders) applies to preparing a firm's tax return. -True -False .

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