Net Operating Tax Carry Backs and Carry Forwards Never Result

question 34

True/False

Net operating tax carry backs and carry forwards never result in a cash refund of prior taxes paid but may result in a reduction in taxes for subsequent years.

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Definitions:

Enzymes

Biological molecules that act as catalysts to speed up chemical reactions in living organisms without being consumed in the process.

Proteins

Large, complex molecules that play many critical roles in the body, including catalyzing metabolic reactions, DNA replication, and responding to stimuli.

Pica

A compulsive eating disorder of non-nutritive substances like dirt or paper, often seen in children and pregnant women.

Duodenum

The first part of the small intestine immediately beyond the stomach, where most of the chemical digestion takes place.