1. True or False: A deferred tax asset arises when current taxable income is greater than pretax financial income.

2. True or False: The amount of income tax expense as determined by GAAP differs from amount determined under the Internal Revenue Code due to measurement and timing.

3. True or False: Temporary differences cause a company's effective tax rate to be different from the enacted tax rate

4. A corporation must report its deferred tax liabilities and assets in two classifications: gross current amounts and gross noncurrent amounts.