Net Operating Losses Generally Create Permanent Book-Tax Differences

question 39

True/False

Net operating losses generally create permanent book-tax differences.

---

Definitions:

Proper Owner

The legitimate or rightful holder of property, who has legal title or claim to it.

Mortgage Transaction

A financial agreement where a borrower receives funds secured by the value of real property, which is to be repaid with interest over time.

Mortgagee

The lender or financial institution that provides the loan in a mortgage agreement.

Mortgagor

The borrower in a mortgage loan agreement, who pledges real property as security for the repayment of the mortgage debt.