A(n) ____ File Is a File Capable of Being Stored

question 81

Multiple Choice

A(n) ____ file is a file capable of being stored and transferred electronically on a file server in order to display on the web.

• A) template
• B) browser
• C) hyperlink
• D) HTML

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Definitions:

Capital Loss Carryforward

A provision allowing taxpayers to use a net capital loss in one year to offset a net capital gain in future years, subject to limitations.

Capital Loss Carryback

Capital Loss Carryback is a tax provision allowing taxpayers to apply a net capital loss to past tax years’ returns to receive a tax refund for taxes previously paid on capital gains.

Schedule M-1

is a tax form used by corporations to reconcile income reported on tax returns with income reported on financial statements.

Alternative Minimum Tax

A parallel tax system to the regular income tax that ensures that certain taxpayers pay at least a minimum amount of tax.