A Company Had Taxable Income of $2 Million in Fiscal

question 69

Multiple Choice

A company had taxable income of $2 million in fiscal 2019 and paid taxes of 0.4 million; the company incurred a loss of $0.5 million in fiscal 2021 when the tax rate is 30%. How much refund is the company entitled to?

• A)$0.2 million
• B)$0.1 million
• C)$0.4 million
• D)$0.6 million

---

Definitions:

Simulation

The process of creating a model of a real-world system and conducting experiments on that model to understand its behavior or to make predictions.

Forecast Charts

Visual tools that display predicted data trends over time to aid in forecasting future activities, trends, or values.

Theoretical Distributions

Mathematical functions that describe the probabilities of outcomes of a random variable based on certain assumptions and parameters.

Define Group

The process of specifying a set of individuals or items that share one or more characteristics, for the purpose of categorization or analysis.