When a Taxpayer Incurs an NOL in 2012, That Is

question 18

Multiple Choice

When a taxpayer incurs an NOL in 2012, that is not attributable to a casualty or theft loss, the taxpayer may:

• A) Carry the NOL forward instead of back.
• B) Carry the NOL back three years .
• C) Carry the NOL back five years.
• D) All of the above.

Analyze the conditions under which firms in competitive markets would continue to produce in the short run despite economic losses.

Distinguish between the elasticity of supply curves in the short run and long run in competitive markets.

Recognize the conditions leading to economic profits or losses for firms in competitive markets in the long run.

Calculate and interpret total revenue and profits given specific sales and cost data for a firm in a competitive market.

---

Definitions:

NPH Insulin

An intermediate-acting insulin used to control blood sugar levels in people with diabetes, characterized by its cloudy appearance and typically injected under the skin.

Regular Insulin

A form of insulin with a short duration of action, used in the treatment of diabetes to help control blood sugar levels.

Viscosity

A measure of a fluid's resistance to flow; a high viscosity indicates a thick fluid, while a low viscosity indicates a thin fluid.

Safety Needle

A needle designed with features to reduce the risk of needlestick injuries to healthcare professionals.