If a Company Is Unable to Use All Its Foreign

question 62

Multiple Choice

If a company is unable to use all its foreign tax credit in a tax year, what happens to the excess?

• A) It is carried forward until it is used up.
• B) It is carried back 3 years and forward 5 years.
• C) It is carried back 1 year and forward 10 years.
• D) It is lost forever.

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Definitions:

Ambivalent Sexism

A theory that sexism has two primary components: hostile sexism, which is openly negative, and benevolent sexism, which is superficially positive but reinforces gender inequality.

Elements

Basic components or parts of a larger system or substance.

Self-fulfilling Prophecy

A belief or expectation that an individual holds that causes it to become true simply because the belief influences behavior towards that outcome.

Social Processes

The patterns of interactions and changes in relationships and societal norms over time.