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When a change in the tax rate is enacted, the effect on existing future income tax assets or liabilities is not recognized until the benefit
When a change in the tax rate is enacted, the effect on existing future income tax assets or liabilities is not recognized until the benefit or cost of the rate change is realized when the timing differences actually reverse. recorded immediately as a retroactive adjustment to retained earnings. recorded prospectively over the number of years from the year of the change until the period in which the timing differences are expected to reverse. recorded as an adjustment to income tax expense in the period of the rate change
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