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What are the reasons that create deferred tax assets and deferred tax liabilities? What is meant by temporary differences? Why do these temporary differences exist?

What are the reasons that create deferred tax assets and deferred tax liabilities? What is meant by temporary differences? Why do these temporary differences exist?

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A deferred tax asset created from a net operating loss when an organization loses cash on its operations that misfortune turns into a net operating lo... blur-text-image

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