Which of the Following Statements Is Correct

question 91

Multiple Choice

Which of the following statements is correct?

• A)If a corporation has a net operating loss,it can carry the loss back three years and then forward twenty years.
• B)A net capital loss can be carried back three years and then forward five years.
• C)The first estimated payment of a corporation is due on the 15^th day of the third month of the fiscal year.
• D)A corporation is entitled to a charitable deduction of 10% of its gross income before certain items.

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Definitions:

Bystander Effect

The social psychological theory that individuals are less likely to offer help to a victim when other people are present.

Fire Station

A facility that houses fire engines and firefighters, serving as a base for responding to fires and emergencies.

Groupthink

A mental process in which the pursuit of agreement or uniformity among group members leads to illogical or ineffective conclusions in decision making.

Social Interference

The impact of social factors or interactions that disrupt or modify an individual's behavior or mental processes.