What Confidence Level Must Management Have That a Tax Position

question 72

Multiple Choice

What confidence level must management have that a tax position will be sustained on audit before it can recognize any portion of the related deferred tax asset under ASC 740?

• A)More likely than not.
• B)Reasonable basis.
• C)Substantial authority.
• D)Probable.

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Definitions:

Aggression

A range of behaviors that can result in both physical and psychological harm to oneself, others, or objects in the environment.

Sexuality

The capacity for sexual feelings and the way individuals express themselves sexually.

Webrooming

The practice of examining products online and then buying them in a store.

Immediate Possession

The right or condition of having or receiving something without delay or without any intervening time.