Use the Following Information for Questions

question 89

Multiple Choice

Use the following information for questions.
Operating income and tax rates for C.J.Company's first three years of operations were as
follows:

-Assuming that C.J.Company opts to carryback its 2011 NOL, what is the amount of income tax payable at December 31, 2012?

• A)$68,000
• B)$168,000
• C)$123,000
• D)$108,000

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Definitions:

Automobile Industry

A sector of the economy that deals with the design, production, and selling of motor vehicles.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

Educated Labor Force

Individuals within the workforce who have achieved a certain level of education, thereby possessing skills and competencies that contribute to higher productivity and innovation.

Industrial Market Countries

Economically advanced capitalist countries of Western Europe, North America, Australia, New Zealand, and Japan; also known as developed countries and high-income economies.