A Net Operating Loss (NOL)occurs When Taxable Income for Any

question 93

True/False

A net operating loss (NOL)occurs when taxable income for any year is negative because itemized deductions exceed business income.

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Definitions:

Precambrian

Referring to the eon that constitutes the earliest part of Earth's history, which ended approximately 542 million years ago.

Geologic Time

The exceptionally long period of time dealt with by geology; the time extending from the formation of Earth to the beginning of written history.

Precambrian

The long span of time before the Phanerozoic Eon, making up around 88% of Earth's history, marked by the formation of the earth and early life forms.

Geologic Timescale

A system of chronological dating that relates geological strata to time, used by geologists, paleontologists, and other Earth scientists to describe the timing and relationships of events in geologic history.