Final answer:
The term 'temporary difference' refers to the disparity between the balance sheet's book value of assets and liabilities and their tax basis, a discrepancy often rooted in asset-liability time mismatch.
Step-by-step explanation:
The term you're looking for which describes the temporary difference between the book value of assets and liabilities on the balance sheet and their tax basis for the tax return, before receivables are collected, is called a temporary difference or timing difference in accounting.
This situation is common due to the asset-liability time mismatch, where for example, customers can withdraw a bank’s liabilities in the short term while customers repay its assets in the long term. The balance sheet, an integral accounting tool, helps to track these differences by listing all assets and liabilities.
In the context of a bank, the difference between a bank's total assets and total liabilities is known as the bank's bank capital, which represents the net worth of the bank.