Question 6 If tangible negative evidence exists, positive evidence may be necessary to overcome that...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Question 6
If tangible negative evidence exists, positive evidence may be necessary to overcome that evidence and to support a conclusion that a valuation allowance is not needed. Which of the following is not an example of such positive evidence?
A carryback-carryforward period that is so brief that it would limit realization of tax benefits
A strong earnings history exclusive of the loss that created the future deductible amount coupled with evidence indicating that the loss is an aberration rather than a continuing condition
Unsettled circumstances that would adversely affect future operations
Existing contracts or firm sales backlog
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
