What is the difference between recognition and realization in the recording of a deferred tax asset on a balance sheet? Briefly describe the four sources of taxable income a company evaluates in determining if a valuation allowance is necessary?
Note: Please post what you view as the appropriate responses to the above prompts. Your initial post should be 250-300 words. Please provide response with a clear, well-formulated thesis; sentence structure, grammar, punctuation, and spelling count. Support ALL posts with appropriate rationale and citations from readings; document sources using APA format.