5 pointa The Deferred Tax Liability created when a $100 tax credit is applied to $1,000 of periodic income assuming a 30% tax rate is 0 30 100 300 Accelerated depredation for tax purposes in the first year of the useful ilfe of a depreciable asset results in the creation of a Deferred Tax Asuet if straight-line depreciation is 2.5 points used for accountine purposes. True False 3 \$opoints Anecample of a permanent ditference between taxable and accounting profit is a tax credit that directly reduces taves. True Falwe