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

User Nathan Lutterman
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2 votes

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.

User Alexey Kharchenko
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