Identify Which of the Following Statements Is True

question 64

Multiple Choice

Identify which of the following statements is true.

• A)A corporate NOL can be carried back two years and forward 15 years.
• B)An election to forgo an NOL carryback must be made on or before the return due date (including extensions)for the year in which the NOL is incurred.
• C)In computing an NOL for the current year,a deduction is allowed for NOLs from previous years.
• D)All of the above are false.

---

Definitions:

Visual Perception Track

The process and pathways by which visual information is received, interpreted, and integrated in the brain.

Visual Action Track

Also known as the dorsal stream, it is a pathway in the brain that is involved in the processing of movement and spatial location.

Dual Processing

The theory that the brain operates using two separate systems for processing information: one that is intuitive and automatic, and another that is deliberative and analytical.

Mental Activity

The operation of the mind in processing thoughts, remembering information, and solving problems.