At the December 31, 2010 balance sheet date, Unruh Corporation reports an accrued receivable for financial reporting purposes but not for tax purposes. When this asset is recovered in 2011, a future taxable amount will occur and
- total income tax expense for 2011 will exceed current tax expense for 2011.
- pretax financial income will exceed taxable income in 2011.
- Unruh will record a decrease in a deferred tax liability in 2011.
- Unruh will record an increase in a deferred tax asset in 2011.