Use the Following Information to Answer the Questions Below

question 45

Multiple Choice

Use the following information to answer the questions below.
A species of lizard has been discovered that reproduces asexually.
-What type of habitat would you expect to find it in?

• A)aquatic
• B)one with seasonal variation
• C)desert
• D)stable
• E)unstable

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Definitions:

Net Operating Loss Carryforward

A tax provision that allows a company to utilize a taxable loss in one period to offset taxable profits in future periods.

Consolidated Financial Statements

Financial statements that combine the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries.

Tax Rate

The rate at which taxes are levied on an individual or a corporation's income.

Consolidated Tax Returns

A single tax return filed by a parent company and its subsidiaries as one taxpayer to IRS, consolidating their tax liabilities.