Violet,Inc

question 79

Multiple Choice

Violet,Inc.recorded a deferred tax asset of $35,000 due to a basis difference in warranty liabilities.Management has assessed that it is more likely than not that the firm will not realize 35% of the deferred tax asset.What is the necessary journal entries to record the valuation allowance?

---

Definitions:

Event's Distance

The spatial separation or extent of separation between the observer and the event occurring.

Predicting Feelings

The process of anticipating one's future emotional states based on current or past information.

Advantages

Benefits or favorable factors that contribute to success in a competitive situation or to achieve a goal.

Disadvantages

Conditions or situations that place someone or something at a lesser advantage compared to others.