What Options Are Open to a Company That Did Not

question 33

Essay

What options are open to a company that did not previously set up a deferred income tax benefit of a tax loss carry forward but has now determined that the probability of realization is greater than 50%?

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Definitions:

Moral Blame

Attribution of ethical responsibility or wrongdoing to an individual or group.

Preventing Future Harm

Strategies or actions taken to avoid potential injuries or damages before they occur.

Contributory Negligence

A legal doctrine that reduces the amount of damages a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to the injury.

Assumed Risk

A principle that a person may voluntarily undertake or accept a risk inherent to an activity, thus absolving others from liability for any injury resulting from that risk.