$5.$ How would an increase in the tax rate impact a firm$$s deferred tax liability in the year of change?

a$)$ Increase.

b$)$ Decrease.

c$)$ No effect.

$$

$6.$ For analytical purposes, a deferred tax liability should be reported on the balance sheet as:

a$)$ long$-$term debt.

b$)$ stockholders$$ equity.

c$)$ debt or equity based on the likelihood of reversal.