1. Discuss whether revaluation of non-current asset will lead to a deferred tax asset or a tax liability.
2. "Revaluation of non-current asset doesn't impact the recognition of future tax associated with that asset". Evaluate this statement.
3. In your opinion, comment whether the deferred tax asset and deferred tax liability meet the definition and recognition for an asset and a liability according to the Conceptual Framework for Financial Reporting.