If a C Corporation Incurs a Net Operating Loss in 2019

question 25

True/False

If a C corporation incurs a net operating loss in 2019, it may carry the loss back two years and forward 20 years to offset income in those years.

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Definitions:

Output

The quantity of goods or services produced within a given time period.

Factor Prices

The costs of the inputs that are used in the production of goods or services.

Production Function

A mathematical relationship describing the maximum output possible from a given set of inputs.

Units Of Output

The total quantity of goods or services produced by a company or industry in a specific period.