Recognition of shortage and recognition of unfulfilled desire are two components of the information search stage of the consumer decision process

A sustainable competitive advantage can be easily acquired and maintained through the use of

arbitrage. Indicate whether the statement is true or false

Violet, Inc. recorded a deferred tax asset of $35,000 due to a basis difference in warranty liabilities. Management has assessed that it is more likely than not that the firm will not realize 35% of the deferred tax asset. What is the necessary journal entries to record the valuation allowance?

A) Income Tax Expense 12,250 Valuation Allowance for Deferred Asset 12,250 B) Deferred Tax Asset 12,250 Valuation Allowance for Deferred Asset 12,250 C) Income Tax Expense 35,000 Valuation Allowance for Deferred Asset 35,000 D) Deferred Tax Asset 35,000 Valuation Allowance for Deferred Asset 35,000