Answer the following questions.
Why would Acme have an explicit policy of selling plant assets before the temporary differences reversed in the deferred tax liability account?
What are the ethical implications of Acmeâ€™s â€œdeferralâ€ of income taxes?
Who could be harmed by Acmeâ€™s ability to â€œdeferâ€ income taxes payable for several years, despite positive earnings?
In a situation such as this, what are Ms. Delaneyâ€™s professional responsibilities as a CPA?