(Solved by Humans)-Zimt AG presents its financial statements in accordance with US GAAP. In 2007, Zimt discloses a...
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Zimt AG presents its financial statements in accordance with US GAAP. In 2007, Zimt discloses a valuation allowance of $1,101 against total deferred tax assets of $19,201. In 2006, Zimt disclosed a valuation allowance of $1,325 against total deferred tax assets of $17,325. Th e change in the valuation allowance most likely indicates that Zimt’s: A. deferred tax liabilities were reduced in 2007. B. expectations of future earning power has increased. C. expectations of future earning power has decreased.
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This question was answered on: 10 May, 2025
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