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QUESTION 9 1. A valuation allowance is recorded against a deferred tax asset when: It is probable that the deferred tax asset will not be realized in the future. it is only remotely possible that the deferred tax asset will not be realized in the future. It is more likley than not that the deferred tax asset will not be realized in the future. it is highly likely the deferred tax asset will not be realized in the future.

QUESTION 9 1. A valuation allowance is recorded against a deferred tax asset when: It is probable that the deferred tax asset will not be realized in the future. it is only remotely possible that the deferred tax asset will not be realized in the future. It is more likley than not that the deferred tax asset will not be realized in the future. it is highly likely the deferred tax asset will not be realized in the future.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 9 1. A valuation allowance is recorded against a deferred tax asset when: It is probable that the deferred tax asset will not be realized in the future. it is only remotely possible that the deferred tax asset will not be realized in the future. It is more likley than not that the deferred tax asset will not be realized in the future. it is highly likely the deferred tax asset will not be realized in the future.
Transcribed Image Text:QUESTION 9 1. A valuation allowance is recorded against a deferred tax asset when: It is probable that the deferred tax asset will not be realized in the future. it is only remotely possible that the deferred tax asset will not be realized in the future. It is more likley than not that the deferred tax asset will not be realized in the future. it is highly likely the deferred tax asset will not be realized in the future.
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