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Basic Question 0 of 5
Which of the following causes a permanent difference between taxable income and accounting profit?
B. MACRS depreciation used for plant assets
C. Interest income on municipal securities
A. Advance collection of revenues
B. MACRS depreciation used for plant assets
C. Interest income on municipal securities
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.

Andrea Schildbach
Learning Outcome Statements
explain how deferred tax liabilities and assets are created and the factors that determine how a company's deferred tax liabilities and assets should be treated for the purposes of financial analysis
CFA® 2025 Level I Curriculum, Volume 3, Module 9.