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A company had recognized a valuation allowance against a significant portion of its deferred tax assets. If the company now believes that its future profitability

A company had recognized a valuation allowance against a significant portion of its deferred tax assets. If the company now believes that its future profitability is set to rise it will most likely result in a(n): Increase in the valuation allowance. Increase in deferred tax assets. Decrease in deferred tax liabilities

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