Indicate whether each statement below is true or false.

	ASC 740 governs how a company accounts for all types of taxes it incurs.
	Temporary differences that are cumulatively unfavorable in the current year are referred to as deductible temporary differences.
	A valuation allowance is recorded to reduce the gross value of a deferred tax liability.
	Entities classify all deferred tax assets and liabilities as "noncurrent" on the balance sheet.
	Permanent differences are included in the calculation to determine the deferred income tax provision.

A.	True
B.	False