Which of the following is true in respect of deferred tax liabilities? None of the listed choices Deferred tax liabilities should be recognized if there are probable future profits which the entity...

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Extracted text: Which of the following is true in respect of deferred tax liabilities? None of the listed choices Deferred tax liabilities should be recognized if there are probable future profits which the entity will be taxed on. Deferred tax liabilities should be recognized in respect of all permanent difference. Deferred tax liabilities should be recognized for all temporary timing difference.