Which of the Following Statements Regarding Credits Is Correct

question 61

Multiple Choice

Which of the following statements regarding credits is correct?

• A) Business expenses are generally refundable credits.
• B) Business credits that are generated in one year but are not utilized in that year expire.
• C) Business credits that are generated in one year but are not utilized in that year may be carried forward to future years but not back to a prior year.
• D) Business credits that are generated in one year but are not utilized in that year may be carried back to the previous year and then forward to future years.

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Definitions:

Non-interventionists

Advocates or policies favoring minimal political or military involvement by a country in international affairs.

Keynesian Economists

Economists who follow the principles of Keynesian economics, emphasizing the role government policy and fiscal measures play in managing economic cycles.

Discretionary Economic Policies

Economic policies based on judgment or choice rather than set rules, often involving government intervention in the economy through spending and taxation decisions.

Destabilizing

Causing or likely to cause a lack of stability in an economy or market, leading to uncertainty and potential financial downturns.