Using the fundamental principle from IAS 12 Income Tax, explain whether a deferred tax asse deferred tax liability should be recognised in relation to the following scenarios. 1. Development costs Development costs of $1000 that are recognised as an asset (i.e. capitalised) and will be amortis the statement of P/L and OCI. The costs were deducted in determining taxable profit when they incurred (i.e. when the cash was paid). 2. Trade Receivables Carrying amount of trade receivables is $150. The $150 is net of expected doubtful debts of $50