Here is the note on deferred tax assets and liabilities of Canadian Tire as of December 31,2011. 19. Defered income Tax Assets and Liabilities The tax-effected unused tax losses and temporary ditterences which resuit in deferred tax assets (labilitiec) and the amount of deterred taxes re. the Consolldated Statements of income are as follows: Which of the following statements is false? a) Canadian Tire holds leases requiring the recognition of an asset as well as a long-term debt in the financial statements of the company. b) There is a difference between the book value and the tax value of the 'stocks' for this company. c) As a net result, Canadian Tire has a tax-deferred liability of $29.3 million in its financial statements of December 31,2011. d) The book value of tangible assets is lower than their tax value