A valuation account is used to:
a. increase a deferred tax asset
b. reduce a deferred tax liability
c. increase a deferred tax liability
d. reduce a deferred tax asset
Ans: d. reduce a deferred tax asset
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Change in accounting principle:
a. required disclosure for publicly traded corporations b. component of the entity has been sold or will be sold c. costs generally associated with downsizing d. reports a series of intermediate subtotals e. accounted for prospectively f. tangentially related to normal operations g. accounted for retrospectively by revising prior years' statements h. other comprehensive income i. total non-owner change in equity j. ability of reported income to predict future earnings
Compared to other appraisal factors, appraisers generally find the ____________________ the most difficult calculation to measure precisely.
a. capitalization rate (cap rate) b. cost to rebuild today with modern methods and materials c. gross rent multiplier (GRM) d. accrued depreciation