Valley Inc

question 97

Multiple Choice

Valley Inc.incurred a $71,400 net operating loss this year.Which of the following statements is true?

• A)Valley can use the NOL only as a carryforward deduction.
• B)Valley can use the NOL only as a carryback deduction.
• C)Valley can elect to use the NOL as a carryforward deduction.
• D)None of the above is true.

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Definitions:

Saturated Fat

A type of dietary fat found in animal products and certain oils that is solid at room temperature and associated with increased cardiovascular risk.

Elevated Total Cholesterol

Higher than normal levels of cholesterol in the blood, increasing the risk of heart disease and stroke.

Diet

The combination of foods and beverages a person consumes, influencing health and nutritional status.

Body Fat

The portion of an individual's body mass composed of fat tissues, critical for energy storage, insulation, and protection of vital organs.