Identify Which of the Following Statements Is True

question 47

Multiple Choice

Identify which of the following statements is true.

• A)An affiliated group member incurring an NOL in a separate return year that is available as a carryback or carryforward to a consolidated return year is subject to a limit on the use of the NOL when the loss year is designated a separate return limitation year (SRLY).
• B)A consolidated NOL may be carried back one year and carried forward twenty years.
• C)An NOL incurred in a separate return limitation year by the corporation that is the common parent corporation for the group in the carryover year is subject to the SRLY limitation.
• D)All of the above are false.

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Definitions:

Weight Training

A form of physical activity that involves lifting weights or using resistance to build muscle strength, endurance, and size.

Resistance Training

A form of physical activity designed to improve muscular strength and endurance by exercising against an opposing force.

Dizzy

A feeling of unsteadiness or lightheadedness that can result from various causes, including vertigo, low blood pressure, or dehydration.

Exercise

Physical activities undertaken to maintain or improve health and fitness.