Income Tax

Question 0

Temporary differences that will add to taxable income relate to future taxable amounts. Future taxable amounts are associated with deferred tax liabilities. The balance sheet classification of deferred tax assets and liabilities is based upon the classification of the item causing the deferred tax effect not on the timing of when the deterred tax effect is expected to reverse.

Answer 0

Deferred tax liability relates to non current assets so the deferred tax impact which is a liability be classified as a non current liability

Question 1

The following are subject to the application of intraperiod tax allocation

Answer 1

Discontinued operations 
Extraordinary items
Cumulative effects of accounting changes 
Prior period adjustments 
Direct adjustments  to  capital accounts