Answer :
Answer: contra asset
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.
Answer: contra asset
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.