Which of the Following Is Allowable as a Deduction in Calculating

question 40

Multiple Choice

Which of the following is allowable as a deduction in calculating a corporation's net operating loss?

• A)Charitable contribution deduction.
• B)Net capital loss carryback.
• C)Net operating loss carryover from other years.
• D)Both charitable contribution deduction and net operating loss carryover from other years are deductible in computing the current-year NOL.

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Definitions:

Nominal Data

A classification of categorical variables that do not have a natural order or rank.

Interval Data

A type of quantitative data that involves measurements where the difference between two values is meaningful, but there is no true zero point.

Bimodal Data

Data that has two different modes, or peaks, in its frequency distribution.

Empirical Rule

A statistical rule stating that for a normal distribution, nearly all of the data will fall within three standard deviations of the mean.