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In a voltaic cell, the spontaneous reaction that occurs is Cr (s) + Cu2+→Cu (s) + Cr2+. Consider the following three statements and choose the correct answer.
I. The chromium metal is the negative electrode.
II. A salt bridge is unnecessary in this voltaic cell.
III. Copper (II) ions are reduced.
Deferred Tax Asset Valuation Allowance
A reserve established against a deferred tax asset when it is likely that some or all of the asset will not be utilized.
Valuation Allowance
An accounting provision made to offset a portion of the deferred tax assets if it's more likely than not that some portion or all of the asset may not be realized.
Deferred Tax Asset
An accounting item that refers to a situation where a business has paid more taxes in advance than its current tax liability, or has carryover of losses that can be used to lower future tax payments.
Year-end Deferred Income Taxes
Taxes on income that is earned in one accounting period but not paid until another, resulting from timing differences between accounting recognition and the tax laws.
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