QUESTION 3-12 marks Using WORKSHEET that is provided, indicate for each of the statements whether it is True (T) or False (F) according to NZ IAS 12. If the statement is false, rewrite the statement to make it true. If the statement is true, you do not need to explain. Worksheet Item Statement (a) Statement: We should recognise all deductible temporary differences as deferred tax liability, with certain exceptions as defined in Para 24. Rewrite Statement: (b) Statement: If a liability is not revenue received in advance, the tax base of the liability is its carrying amount minus future amount that is deductible for tax purposes. Rewrite Statement: (c) Information: A company recognised an asset on Balance Sheet. The accounting carrying amount of this asset is less than its tax base. Statement: Therefore, there is a taxable temporary difference arising from this asset. Rewrite Statement: T/F