Identify Which of the Following Statements Is True

question 61

Multiple Choice

Identify which of the following statements is true.

• A)A corporate capital loss can be carried back three years,and then can be carried forward five years.
• B)Corporate capital loss carrybacks can offset corporate ordinary income earned in previous years.
• C)At the election of a corporation,a net capital loss carryback can be forgone and carried forward only.
• D)All are false.

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Definitions:

Superego

One of the three components of the human psyche in Freudian psychoanalytic theory, representing the moral conscience and the social standards of right and wrong.

Id

A component of Sigmund Freud's psychoanalytic theory, representing the instinctual drives and the source of psychic energy.

Ego

In psychoanalytic theory, it represents the part of the personality that mediates between the demands of the id, superego, and reality.

Libido

A term used in psychoanalytic theory to describe the energy created by the survival and sexual instincts.