True and False

$1.$ Permanent differences do not give rise to future taxable or deductib le amounts.

$2.$ Compa nies must consider presently enacted changes in the tax rate that become effective

in future years when determining the tax rate to apply to existing tempora ry diffe rences.

$"3.$ When a change in the tax rate is enacted, the effect is reported as an adjustment to income"

tax payable in the period of the change.

$4.$ An individual deferred tax asset or liability is usually classified as current or noncurrent

based o n the classification of the related asset$/$liability for financia l reporting purposes.