A Net Operating Loss (NOL) Carryforward Creates a Deferred Tax

question 42

True/False

A net operating loss (NOL) carryforward creates a deferred tax liability that should be classified as current to the extent that the NOL will be recovered in the following year.

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Definitions:

Cellular Immunity

One of the three general categories of immune response, based on the action of a class of blood cells called T-lymphocytes. The “T” designation refers to the locus of their production, the thymus gland. Cellular immunity results from a cascade of actions of various types of T-lymphocytes.

Monocytes

A type of white blood cell that plays a critical role in the immune system by killing pathogens, removing dead cells, and stimulating the action of other immune cells.

Sympathetic System

A part of the autonomic nervous system that activates what is often termed the fight or flight response, preparing the body for action.