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  3. under sfas 109 when there is a net operating loss

Under SFAS 109 when there is a net operating loss carryforward: a. A deferred tax...

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Accounting

Under SFAS 109 when there is a net operating loss carryforward:

a. A deferred tax liability is recognized

b. A receivable is created

c. A deferred tax equity account is created

d. a deferred tax asset is recorded along with any applicable valuation allowance

Please explain why. idk what SFAS 109 is. thank you

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