Which of the following reflects SFAS No. 109's position regarding tax-loss carryforwards?

A) A tax-loss carryforward should not be recorded because future benefits are uncertain.

B) Any excess of the tax-loss carryforward over deferred tax liabilities should not be booked.

C) A tax-loss carryforward coming from an acquired corporation should not be recognized.

D) A tax-loss carryforward should be booked as an asset in most cases.

Answer rating: 100% (QA)

Answer D A taxloss carryforward should be booked as an asset in most cases Atax loss carry... View the full answer