Answered

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Which of the following is true regarding deferred income tax?
A. valuation allowance is recognized to reduce the reported effect of this future tax benefit if it is more likely than not that the benefits of the asset will not be realized.
B. A valuation allowance is recognized to increase the reported effect of this future tax benefit if it is more likely than not that the benefits of the asset will not be realized.
C. A valuation allowance is recognized to reduce the reported effect of this future tax benefit if it is more likely than not that the benefits of the asset will be realized.

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