Use the following information for questions 76-78.
At the beginning of 2015; Elephant, Inc. had a deferred tax asset of $10,000 and a deferred tax liability of $15,000. Pre-tax accounting income for 2015 was $750,000 and the enacted tax rate is 40%. The following items are included in Elephant's pre-tax income:
-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2015?

Question

Use the following information for questions 76-78.
At the beginning of 2015; Elephant, Inc. had a deferred tax asset of $10,000 and a deferred tax liability of $15,000. Pre-tax accounting income for 2015 was $750,000 and the enacted tax rate is 40%. The following items are included in Elephant's pre-tax income: 
-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2015?

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The Answer of Use the following information for questions 76-78.
At the beginning of 2015; Elephant, Inc. had a deferred tax asset of $10,000 and a deferred tax liability of $15,000. Pre-tax accounting income for 2015 was $750,000 and the enacted tax rate is 40%. The following items are included in Elephant's pre-tax income: 
-Which of the following is required to adjust Elephant, Inc.'s deferred tax asset to its correct balance at December 31, 2015?

Use the Following Information for Questions 76-78