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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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