Which of These Items Is Not an Adjustment to Taxable

question 59

Multiple Choice

Which of these items is not an adjustment to taxable income or net loss to compute current E&P?

• A)Dividends received deduction.
• B)Tax-exempt income.
• C)Net capital loss carryforward utilized in the current year from the prior-year tax return.
• D)Refund of prior-year taxes for an accrual-method taxpayer.

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Definitions:

Communication Process

The sequence of steps through which information is transmitted and received between senders and receivers.

Planning Phase

The initial stage in a project or process where objectives are defined, resources are allocated, and strategies are developed.

Culture

The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Messages

Units of communication intended to convey information, feelings, or instructions from one individual or group to another.