A corporation must recognize a valuation allowance, if based on available evidence; it is more likely than not that the deferred liability will not be realized.

Name: A corporation must recognize a valuation allowance, if based on available evidence; it is more likely than not that the deferred liability will not be realized.
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A corporation must recognize a valuation allowance if it is more likely than not that the deferred tax asset will not be realized, not a deferred liability.

A Corporation Must Recognize a Valuation Allowance, If Based on Available