Cinnamon inc recorded a total deferred tax asset in 2007 of, Ask an Expert

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Cinnamon, Inc. recorded a total deferred tax asset in 2007 of $12,301, off set by a $12,301 valuation allowance. Cinnamon most likely:
A. fully utilized the deferred tax asset in 2007.
B. has an equal amount of deferred tax assets and deferred tax liabilities.
C. expects not to earn any taxable income before the deferred tax asset expires.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91769328

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