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.

---

Definitions:

Mutual Gains

Situations or agreements where all parties involved benefit or achieve positive outcomes, often used in negotiations or conflict resolution.

Intragroup Conflict

Conflict that occurs within a group, often arising from differences in viewpoints, ideas, or personalities, which can impact group dynamics and outcomes.

Intraorganizational Negotiations

The process of bargaining and making agreements within the same organization, often involving different departments or groups.

Consensus

A general agreement or the attainment of a common understanding by all parties involved.