The valuation allowance account that is used in conjunction with deferred taxes relates:_______

Question

asked Feb 9, 2021 45.8k views

1 Answer

Alexey Kharchenko · Answer 1 · 2021-02-16T02:02:32+0000

Answer: contra asset

Step-by-step explanation:

A contra asset account is one whereby the account balance will either be a negative balance or zero.

The valuation allowance account that is used in conjunction with deferred taxes relates contra asset.