Which of the following should be disclosed in a company’s financial statements related to deferred taxes? i. the types and amounts of existing temporary differences. ii. the types and amounts of existing permanent differences. iii. the nature and amount of each type of operating loss and tax credit carryforward.

The correct answer is D.

Explanation:

The normal rule for disclosure is to disclose "everything," the more the better. However, each rule has an exception. In this question, one of the options is permanent differences. There are no deferred taxes for permanent differences. Therefore, it is not necessary to disclose the types and amounts of existing permanent differences. However, the types and amounts of temporary differences and the nature and types of operating losses and transfers of tax credits must be disclosed.

a and c

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