In the current year, ABC Corp. sold land on an installment basls, with cash to be collected over the next several years. Does the difference in accounting treatment of installment sales income financial accounting versus tax accounting) result in a deferred tax asset or deferred tax llobity? Why? Multiple Choice Deferred to asset Taxable income is lower than pretax accounting income when the difference originates Deferred tax tinbauty Taxable income is lower than protax accounting Income when the difference originates Deferred tax asset. Toxable income is higher than protax accounting income when the difference originatox. Deferred tax liability Taxable income higher than protax accounting income when the difference originates