Examples of Positive Evidence Cited by the FASB to Indicate

question 3

Multiple Choice

Examples of positive evidence cited by the FASB to indicate that a valuation allowance for the tax benefits from a deferred tax asset is not needed include all of the following except

• A)existing contract sale backlogs that will produce sufficient taxable income
• B)excess of fair market value over the tax basis that is sufficient enough to realize the deferred tax asset
• C)a history of using operating loss carryforwards
• D)a strong earnings history exclusive of the loss that created the deferred tax asset

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Definitions:

Learn

The process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, or preferences through study, experience, or teaching.

Psychological Disorders

Patterns of behavioral or psychological symptoms that impact multiple areas of life and create distress for the person experiencing these symptoms.

Learning Approach

A theoretical perspective focusing on how individuals acquire new behaviors, skills, attitudes, or knowledge through interactions with their environment.

Abnormal Behaviors

are actions or behaviors that deviate significantly from what is considered typical or normal within a culture or society, often indicating a possible psychological disorder.