Recognition of Tax Benefits in a Loss Year Due to a Loss

question 59

Multiple Choice

Recognition of tax benefits in a loss year due to a loss carryforward requires

• A) the establishment of a deferred tax liability.
• B) the establishment of a deferred tax asset.
• C) the establishment of an income tax receivable.
• D) only a note to the financial statements.

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Definitions:

Dietary Reference Intakes

A set of reference values used to plan and assess nutrient intakes of healthy people, including RDAs, AIs, ULs, and EERs.

Adequate Intake

Adequate Intake refers to a recommended average daily nutrient intake level, based on estimations when there is not enough evidence to establish a precise RDA (Recommended Dietary Allowance).

RDA

The Recommended Dietary Allowance, which is the average daily dietary intake level sufficient to meet the nutrient requirements of nearly all (97%-98%) healthy individuals.

Body Mass Index

A numerical measurement of a person's body weight in relation to their height.