Imagine that you work in an accounting firm and your boss has requested you to present an overview of the tax structure to your organization. Two presentations have been requested. The first is a presentation that explains the differences between the company's effective tax rate, cash tax rate, and structural tax rate. The second presentation should highlight the difference between a deferred asset and deferred liability. Select either presentation, highlight the points that should be included, and briefly explain how these rates are used in your company and what benefits, if any, could be gained from switching between these rates. Determine how a company benefits from classifying a transaction as a deferred asset or a deferred liability on the balance sheet.