1. What is a temporary difference?
 
 
 
 
 
 
 
 
 
 

2. What is a deferred tax liability?
 
 
 
 
 
 
 
 
 
 

3. What are nontemporary (permanent) differences and how are they accounted for in computing deferred taxes?
 
 
 
 
 
 
 

4. How are deferred tax assets and liabilities reported on the balance sheet?