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.

---

Definitions:

A State

The initial affective reaction to an environmental stimulus in opponent-process theory.

B State

The opposite affective response that the initial affective reaction, or A state, elicits in opponent-process theory.

D State

This could refer to a specific theoretical state in behavioral or psychological models similar to "B State," indicating a distinct condition affecting behavior or mental processes, context-dependent.

A State

Represents a specific condition or phase that an entity or individual is in at a particular time.