A. History of profits. Which of the following types of evidence indicate that a valuation allowance is needed to reduce the deferred tax asset?

A. History of profits. Which of the following types of evidence indicate that a valuation allowance is needed to reduce the deferred tax asset? A. History of profits. B. Excess of appreciated asset values over c. Existing contracts or sales backlogs which will generate significant future income. D. Short carryback or carryover periods.