A valuation allowance would exist as a contra account to the deferred tax assets if it is: O"probable" that all of the gross amount of the deferred tax assets is expected to be realized O"probable" that only a small portion of the deferred tax assets are expected to be realized "more likely than not" that only a portion of the gross amount of the deferred tax assets is expected to be realized. O"more likely than not" that the entire amount is to be realized.

A valuation allowance would exist as a contra account to the deferred tax assets if it is: O"probable" that all of the gross amount of the deferred tax assets is expected to be realized O"probable" that only a small portion of the deferred tax assets are expected to be realized "more likely than not" that only a portion of the gross amount of the deferred tax assets is expected to be realized. O"more likely than not" that the entire amount is to be realized.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter14: Taxes On The Financial Statements

Section: Chapter Questions

Problem 49P

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