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(1) What four principles did FASB conclude were necessary to implement the comprehensive assets and liability approach? (2) What are the three characteristics of

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(1) What four principles did FASB conclude were necessary to implement the comprehensive assets and liability approach? (2) What are the three characteristics of a liability, and why does a referred tax liability of a corporation meet these characteristics? (3) What are the three characteristics of an assets, and why does a referred tax assets of a corporation meet these characteristics? (4) How does a corporation determine its deferred taxes under GAAP?

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