For each of the following differences between book and taxable income, determine if the difference would result in a deferred tax asset, liability, or neither.

Permanente Difference	Answer 1Choose...Deferred Tax LiabilityDeferred Tax AssetNeither
Tax Depreciation in Excess of book depreciation	Answer 2Choose...Deferred Tax LiabilityDeferred Tax AssetNeither
Cash collected by cash basis tax payer that has not been earned under GAAP	Answer 3Choose...Deferred Tax LiabilityDeferred Tax AssetNeither
Expenses deductible for tax purpose in the current year, not yet taken as an expense for financial reporting purposes.	Answer 4Choose...Deferred Tax LiabilityDeferred Tax AssetNeither