What are the characteristics of an asset, Taxation

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What are the characteristics of an asset

Response to the following questions:

1. What are the three characteristics of a liability and why does a deferred tax liability of a corporation meet these characteristics?

2. What are the three characteristics of an asset and why does a deferred tax asset of a corporation meet these characteristics?

Support your answer using a minimum of two professional or academic sources.

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Taxation: What are the characteristics of an asset

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Taxation: What are the characteristics of an asset

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