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What is the objective of requiring managers to consider the need for a valuation allowance for deferred tax assets? a. How important is managerial judgment

What is the objective of requiring managers to consider the need for a valuation allowance for deferred tax assets? a. How important is managerial judgment in arriving at the proper valuation allowance? b. How useful is the valuation allowance to outsiders attempting to evaluate the companys performance what does it potentially communicate to outsiders?

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