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In year one of a company's life, if income tax expense is less than income tax payable due to a temporary timing difference, then: a.

In year one of a company's life, if income tax expense is less than income tax payable due to a temporary timing difference, then:

a. A loss will be recorded.

b. a gain will be recorded.

c. a deferred tax asset account will be increased.

d. a deferred tax liability account will be increased.

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