Heres an excerpt from one AFs notes to its financial statements: Deferred taxes (in part)...
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Accounting
Heres an excerpt from one AFs notes to its financial statements:
Deferred taxes (in part)
Deferred tax assets related to temporary differences and carryforwards are recognized only to the extent it is probable that a future taxable profit will be available against which the asset can be utilized at the tax entity level.
Is this policy consistent with U.S. GAAP? Explain.
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