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Which one of the following statements is true regarding deferred taxation? A. It addresses neither permanent or temporary differences between the taxation and accounting treatment of certain items. B. It addresses permanent differences that arise because of differences in the treatment of certain items of income and expenditure for taxation versus accounting purposes. C. It addresses both permanent and temporary differences between the taxation and accounting treatment of certain items. D. It addresses temporary differences that arise because certain items are included in the accounts in a different period to that in which they are dealt with for taxation purposes. |