Question: What effect does a timing difference have on a deferred, or a future income tax account? Select answer from the options below A timing difference

What effect does a timing difference have on a deferred, or a future income tax account?
Select answer from the options below
A timing difference will always increase the balance of a deferred tax account.
Timing differences do not affect the balance in a deferred tax account.
Timing differences always decrease the balance of a deferred tax account.
A timing difference can increase or decrease the balance in a deferred tax account.

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