Question: A deferred tax asset represents the: decrease in taxes payable in previous years as a result of cumulative temporary differer increase in taxes saved in

A deferred tax asset represents the:

decrease in taxes payable in previous years as a result of cumulative temporary differer increase in taxes saved in future years as a result of deductible temporary differences.

decrease in taxes saved in future years as a result of deductible temporary differences increase in taxes payable in future years as a result of deductible temporary differens

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