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  3. the gaap pre-tax income for the year is greater th

The GAAP pre-tax income for the year is greater than the taxable income on the...

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Accounting

The GAAP pre-tax income for the year is greater than the taxable income on the Tax Return for the year. Which of the following is possible?

Deferred Tax Assets down by $2 mill, Deferred Tax Liabilities down by $3 mill

Deferred Tax Assets down by $3 mill, Deferred Tax Liabilities down by $2 mill

Deferred Tax Asset up by $3 mill, Deferred Tax Liability up by $2 mill

Deferred Tax Asset unchanged, Deferred Tax Liability down by $3 mill

Deferred Tax Asset up by $3 mill, Deferred Tax Liability unchanged

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