The use of a Deferred Tax Asset account is subject to all of the following restrictions, EXCEPT

Question

Quizplus · Accepted Answer

The use of a deferred tax asset account is subject to restrictions such as regular review and recognition of previously unrecognized deferred tax assets in case of change in conditions. However, the allowance method is not a required standard for recognizing the deferred tax asset account. Instead, the balance sheet approach or the income statement approach can also be used for recognizing the deferred tax asset account.

The Use of a Deferred Tax Asset Account Is Subject