Which of the Following Is Allowable as a Deduction in Calculating

question 40

Multiple Choice

Which of the following is allowable as a deduction in calculating a corporation's net operating loss?

• A)Charitable contribution deduction.
• B)Net capital loss carryback.
• C)Net operating loss carryover from other years.
• D)Both charitable contribution deduction and net operating loss carryover from other years are deductible in computing the current-year NOL.

---

Definitions:

Laid-back

Having a relaxed or casual manner; not overly stressed or anxious.

Type B

Refers to a personality type characterized by lower stress levels, a relaxed attitude, and a patient demeanor, in contrast to Type A personalities.

General Adaptation Syndrome

A model describing the body's short-term and long-term reactions to stress, consisting of three stages: alarm, resistance, and exhaustion.

Exhaustion

A state of extreme physical or mental fatigue often resulting from stress, overwork, or illness, making it difficult to function effectively.