TRUE OR FALSE

1. If a lease has a term of fewer than 12 months, The lessee is required to adopt the operating lease model.

2. Right of use asset is depreciated is always depreciated over its useful life. 3. Current tax expense is equal to the tax due in the income tax return.

4. Deferred tax liability is always a non-current liability.

5. Deferred tax assets and deferred tax liability should be neeted against each other.