Smith & Jones Inc. did not recognize a deductible timing difference last year as a future tax asset because they did not consider it probable that it would be realized. Now, however, they now believe that half of the future tax asset will be realized after all, equally over the next three years. What should they record this year?

Answer rating: 100% (QA)

Since Smith Jones Inc now believe that half of the future tax asset wi... View the full answer