Why does book tax difference exist? Explain DTA and DTL. Why is valuation allowance for deferred tax assets a critical audit matter for American Airlines? For American Airlines, how does COVID-19 affect the valuation allowance for deferred tax assets?

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000006201/000000620121000014/aal-20201231.htm

Answer rating: 100% (QA)

Book tax differences arise because of the different rules and regulations followed by financial accounting standards book accounting and tax laws tax ... View the full answer