Which of the following statements is true regarding sfas, Ask an Expert

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Which of the following statements is true regarding SFAS 109 and its use of the asset and liability approach?

Considerable flexibility is permitted in the balance sheet classification of deferred tax amounts.
The approach recognizes the time value of money.
The FASB's decisions in some areas were influenced by practical considerations.
The approach consistent with cash basis accounting

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Category:- Accounting Basics
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