21) Tax expense and tax payable will always be equal assuming no temporary or permanent differences. (True/False) 22) Investments accounted for under the equity method for financial reporting purposes and under the cost method for tax purposes will result in future taxable amounts and therefore a deferred tax liability. (True/False) 23) Proceeds from life insurance carried by the company on key officers or employees is an example of an item recognized for tax purposes but not for financial reporting purposes. (True/False)