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| Galway Corp. prepares its financial statements in accordance with IFRS. Which of the following is true regarding reporting Galway’s deferred income taxes in its year 4 financial statements? A. Deferred tax assets and liabilities may only be classified as noncurrent. B. Deferred tax assets are always netted with deferred tax liabilities to arrive at one amount presented on the balance sheet. C. Deferred tax assets and liabilities are classified as current and noncurrent based on their expiration dates. D. Deferred taxes of one jurisdiction are offset against another jurisdiction in the netting process. |