Morganite Ltd has recorded a net profit for the 2020/2021 financial year of $500,000. They are in the process of calculating their tax payable with their auditors. The auditors have reviewed the past financial statements and have identified that Morganite Ltd, has unused tax losses of $35,000 that it can apply against this profit. The unused tax loss is an example of a? a. Deferred tax liability b. Temporary difference C. Deferred tax asset d. Tax expense Justification