Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the number for the most correct term. TERM PHRASE 1. Will generate a refund of taxes paid in prior years. 2. is a process of allocating income tax expense among income from continuing operations. 3. Arises when future deductible amounts are created by temporary differences. 4. Reduces the net deferred tax asset and is classified as noncurrent in a balance sheet 5. Is the basis for computing the tax liability for taxes currently payable