Refer to Exhibit 15.8. Under SFAS No. 96, there was a conservative recognition of deferred tax assets.

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Refer to Exhibit 15.8. Under SFAS No. 96, there was a “conservative” recognition of deferred tax assets.

As aresult, the $135 deferred tax asset in 1997 would need to be “carried back” to 1994. Why would this result not be conservative?

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Accounting Theory Conceptual Issues In A Political And Economic Environment

ISBN: 9781412953450

7th Edition

Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki

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Question Posted: Jun 24, 2024 01:05 AM

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Refer to Exhibit 15.8. Under SFAS No. 96, there was a conservative recognition of deferred tax assets.

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Accounting Theory Conceptual Issues In A Political And Economic Environment

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