True and False

$1.$ A deferred tax liability represents the increase in taxes payable in future yea rs as a

result of taxable tempora ry differences existing at the end of the current year $.$

$2.$ Deductible amounts cause taxable income to be greater than pretax financia l income in

the future as a result of existing temporary differences $.$

$3.$ A defer red tax asset represents the increase in taxes refundable in future yea rs as a

result of deductible tempo rary differences existing at the end of the current year.

$4.$ Taxable tempora ry differences will result in taxable amounts in future years when the

related assets are recovered.