A deferred tax liability is classified on the statement of financial position as either a current or a noncurrent liability. The current amount of a deferred tax liability should generally be Group of answer choices totally eliminated from the financial statements if the amount is related to a noncurrent asset. based on the classification of the related asset or liability for financial reporting purposes. the total of all deferred tax consequences that are not expected to reverse in the operating period or one year, whichever is greater. the net deferred tax consequences of temporary differences that will result in net taxable amounts during the next year.