Which, If Any, of the Following Provisions Cannot Be Justified

question 139

Multiple Choice

Which, if any, of the following provisions cannot be justified as mitigating the effect of the annual accounting period concept?

• A)Nonrecognition of gain allowed for involuntary conversions.
• B)Net operating loss carryback and carryover provisions.
• C)Carry over of excess charitable contributions.
• D)Use of the installment method to recognize gain.
• E)Carry over of excess capital losses.

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Definitions:

Human Instincts

Innate, typically fixed patterns of behavior in animals or humans in response to certain stimuli.

Repression

A defense mechanism where unwanted or discomforting thoughts and memories are unconsciously pushed from the conscious mind.

Denial

A defense mechanism whereby individuals refuse to acknowledge reality or facts, often as a way to protect themselves from uncomfortable emotions or truths.

Stealing Money

The act of unlawfully taking money that belongs to someone else, with the intent to permanently deprive the owner of it.