Which of the following statements regarding recognizing deferred tax assets is NOT correct?
When an entity assesses whether taxable profits will be available against which it can utilize a deductible temporary difference, it does not need to consider whether tax law restricts the sources of taxable profits against which it may make deductions
Deferred tax assets are recognized for the carry-forward of unused tax credits, to the extent that it is probable that future taxable profit will be available against which the unused tax credits can be utilized
To the extent that it is probable that future taxable profit will be available against which the unused tax losses can be utilized, deferred tax assets are recognized for the carry-forward of unused tax losses
Deferred tax assets are recognized for deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized