Under IFRS, the classification of the underlying asset or liability that causes a deferred tax asset or liability will Select answer from the options below determine whether to classify the deferred tax as current or noncurrent on the statement of financial position. not be relevant, as all deferred tax balances must be noncurrent. determine whether to classify the deferred tax as a carry forward or a carry back on the income statement. determine whether to classify the deferred tax as current or noncurrent on the income statement.