15 points A shorter uscful life for a depreciable asset for tax purposes (longer life for accounting purposes) results in the creation of a Deferred Tax Liabiiity. True Fatse Spoints A Valuation Allowance is applied only to Deferred Tax Liabilities (not Deferred Tax Assets). True False 6 . 10 points. Accounting proht (pretaxincome) is always the same as Taxable income. True False