Examlex
Starting in the 1970s, a program called Scared Straight exposed at-risk youth to the harsh reality of prison life. According to your textbook, which of the following is true about this program?
Future Liability
A financial obligation or debt that a company is required to pay at a future date.
Income Tax Expense
The total amount of income tax a company is required to pay to the government, reflected as an expense in its income statement.
Deferred Tax Asset Valuation Allowance
A contra-asset account used to decrease the value of deferred tax assets if it is more likely than not they will not be realized.
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