In which of the following ways does SFAS No. 109 differ from its predecessors?
a. It allows for the discounting of deferred tax assets and liabilities.
b. It has a comprehensive tax allocation orientation.
c. It provides a more liberal recognition policy for deferred tax assets and tax-loss carryforwards.
d. It has a revenue-expense (matching) orientation.
ANSWER: C
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a. table b. column c. database d. row
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What will be an ideal response?