The Tax Effect of a Net Operating Loss (NOL) Carryback

question 157

Multiple Choice

The tax effect of a net operating loss (NOL) carryback usually:

• A) Results in a current receivable at the end of the NOL year.
• B) Is subject to a valuation allowance.
• C) Is reflected as deferred tax asset at the end of the NOL year.
• D) Is reflected as a deferred tax liability at the end of the NOL year.

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