A publishing firm contributed $250,000 to support some philanthropic projects. The firm immediately expensed that amount?

 in its income statement for the current fiscal year. According to applicable tax legislation such contributions are not tax-deductible.

Which of the following statements is most likely correct?

A. A temporary difference of $250,000 gives rise to a deferred tax liability.

B. A deferred tax asset arises, as taxable income is greater than accounting profit.

C. The treatment of $250,000 for accounting and tax purposes represents a permanent difference.