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

A deferred tax asset represents the: O decrease in taxes payable in previous years as a result of cumulative temporary differences. decrease in taxes saved in future years as a result of deductible temporary differences. increase in taxes saved in future years as a result of deductible temporary differences. O increase in taxes payable in future years as a result of deductible temporary differences

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