Assuming a 20% statutory tax rate applies to all years involved, which of the following situations will give rise to reporting a deferred tax asset on the balance sheet? 1. A revenue is deferred for tax purposes but not for financial reporting purposes. II. A revenue is deferred for financial reporting purposes but not for tax purposes. III. An expense is deferred for financial reporting purposes but not for tax purposes. IV. An expense is deferred for tax purposes but not for financial reporting purposes. . a. items I and III only b. items I and IV only C. items II and III only d. .item ll only