Identify Which of the Following Statements Is True

question 90

Multiple Choice

Identify which of the following statements is true.

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

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Definitions:

Satisfaction

A measure of how goods and services supplied by a company meet or surpass customer expectation.

Pleasure

A state of feeling pleased or satisfied, often resulting from the fulfillment of a desire or need.

Synonymous

Having the same or nearly the same meaning as another word or phrase in the same language.

Maximize Utility

The economic principle aiming to achieve the highest satisfaction possible from consumption given limited resources.