The Valuation Allowance Account That Is Used in Conjunction with Deferred

question 153

Multiple Choice

The valuation allowance account that is used in conjunction with deferred taxes relates:

• A) Only to deferred tax liabilities.
• B) To both deferred tax assets and liabilities.
• C) Only to deferred tax assets.
• D) Only to income taxes receivable due to net operating loss carrybacks.

---

Definitions:

Values

In programming, data assigned to variables, or the actual information processed by computer programs.

One Dimensional Array

A data structure that contains a sequence of elements accessible by a single index, representing a linear collection of elements.

Array of Arrays

A data structure where each element is itself an array, allowing for multi-dimensional arrays.

Array Name

The Array Name refers to the identifier given to an array, allowing access to its elements through indexing.