A) recorded as a liability if received in advance B) recorded as an expense as it accrues O) a deduction is allowed when paid D) recorded as an asset and expensed when used 7) 8) A deferred tax asset will result when: A) the carrying amount of an asset is greater than the asset's tax base B) the carrying amount of a liability is greater than the liability's tax base C the carrying amount of an asset is less than the asset's tax base D) both B and C