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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