W Listen S Identify ALL of the following statements that are TRUE. The effective income tax rate equals (Income Tax Expense) x (Income Aft Taxes). The valuation allowance for a deferred tax asset is reversed if the compa determines that the deferred tax asset will be realized. Companies establish a Valuation Allowance for Deferred Tax Assets if the realization of the tax benefits is certain. The valuation allowance for a deferred tax asset is reversed if the compa writes off the deferred tax asset. Question 3 (6 points) Deferred income tax expense is the effect on tax expense from changes deferred tax assets and deferred tax liabilities. #3 20 F3 E D $ 4 888 F4 R F % 5 T MacBook Air 6 G Y & 7 H F7