When assessing realizability of deferred tax assets, management must consider positive and negative evidence. Which...
60.1K
Verified Solution
Link Copied!
Question
Accounting
When assessing realizability of deferred tax assets, management must consider positive and negative evidence. Which of the following would be considered negative evidence?
A- existing contracts or firm sales backlog
B-a carryback or carryforward period that is so brief it could limit realization of tax benefits
C-taxable income in prior carryback year(s) if carryback is permitted under the tax law
D-a strong earnings history exclusive of the loss that created the future deductible amount
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
