Which of the following statements best describes the disclosure of a company's deferred tax assets and liabilities?

Multiple Choice

• Current deferred tax assets and liabilities and noncurrent deferred tax assets and liabilities can always be netted on the balance sheet.
• All deferred tax assets and liabilities are treated as noncurrent and can be netted and disclosed as one aggregate amount on the balance sheet.
• All deferred tax assets and liabilities are treated as noncurrent and can be netted on the balance sheet only if they arise in the same tax jurisdiction.
• Deferred tax assets and liabilities must be separately disclosed in the balance sheet.