A Corporation Has the Following Capital Gains and Losses During

question 33

Multiple Choice

A corporation has the following capital gains and losses during the current year: The tax result to the corporation is

• A)deduct $3,000 of the STCL currently;carryforward the remaining $2,000 STCL and $6,000 LTCL.
• B)deduct $5,000 STCL and $6,000 LTCL.
• C)deduct nothing currently;carryback the $5,000 STCL and $6,000 LTCL for three years and carryforward for 5 years,if necessary.
• D)deduct nothing currently;carryback the $11,000 STCL for three years and carryforward for 5 years,if necessary.

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Definitions:

Managerial Role

The specific duties and responsibilities assigned to managers, including planning, organizing, leading, and controlling an organization's resources.

Entrepreneur

A person who organizes, manages, and assumes the risks of a business or enterprise, often seen as an innovator or source of new ideas.

Resource Allocator

A role typically assumed by managers or leaders, involving the responsibility of distributing and managing resources within an organization efficiently.

Contingency Approach

The Contingency Approach refers to a management theory that suggests the best way to manage an organization depends on, and is contingent upon, the internal and external situation.