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Current and Deferred Taxes Accounting principles require us to recognize taxes when they are incurred. However, there is a difference in accounting between standard accounting principles and tax accounting. It's critical for an analyst to understand the difference. Which of the following is a correct statement? Select ALL that apply. Current taxes are cash taxes to be paid in the near term. Deferred taxes are beneficial for governments as they increase near-term tax revenue O Deferred taxes are non-cash taxes in the current period, O Deferred taxes are taxes that will be deferred to a later period due to tax rules