BOOK-TAX DIFFERENCE Definition

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BOOK-TAX DIFFERENCE is pretax book income minus tax net income.

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OBJECTIVE is a statement that is written in terms of specific measurable time-based and verifiable outcomes that challenge the organization to be more responsive to the environment to achieve the desired goals. Dependent upon usage, GOALS are general in nature, while OBJECTIVES are specific, measurable and time-based. In some organizations, the meanings for GOAL and OBJECTIVE are reversed.

INCOME TAXES PAYABLE is income taxes due including current portion of deferred taxes.

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