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10 May, 04:23

To properly measure an asset on the balance sheet, any related valuation allowance should be reported A. Contra to the particular asset. B. As a deferred credit. C. As a liability. D. On the income statement.

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  1. 10 May, 07:06
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    A) Contra to the particular asset.

    Explanation:

    A valuation allowance account is a reserve or contra account against deferred tax assets based on the likelihood that those assets will not be realized.

    For example, a common valuation allowance account is Allowance for Doubtful Accounts which is a contra asset account of Accounts Receviable.
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