1. (5 points) Under IFRS companies are expected to use current tax rates to calculate deferred taxes and income tax expense. Under what circumstance does IFRS allow companies to use a rate different than the current tax rate? (NIE 5) ire rates have been enacted into law. probable that future tax rates will change. ppears like that future taxes rates will drop below the current tax rate. ppears like that future taxes rates will increase above the current tax rate. 5 points Question 2 1. (5 points) Which of the following is the major distinction between permanent and temporary book-tax differences? (NIE 5) CCCC inent differences can change in status with the passage of time. inent differences are not representative of acceptable accounting practice. orary differences reverse themselves, permanent differences don't." orary differences occur frequently, whereas permanent differences occur