Which of the Following Statements About an NOL Deduction Is

question 110

Multiple Choice

Which of the following statements about an NOL deduction is false?

• A)A taxpayer who deducts an NOL against taxable income for a previous year receives an immediate benefit in the form of a tax refund.
• B)The value of an NOL carryforward deducted next year is more than the value of an NOL carryforward deducted in five years.
• C)The value of an NOL carryforward deduction depends on the taxpayer's discount rate and future marginal tax rate.
• D)None of the above is false.

Identify the legal processes involved in the formation, operation, and management of corporations.

Understand the regulatory environment governing corporate contributions and free speech rights.

Understand the express and implied powers of corporations under state law.

Grasp the significance of corporate bylaws in governing internal management.

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Definitions:

Compressed Condition

The state of a material or object that has been compacted or squeezed, reducing its volume and changing its density.

Jounce

The most compressed condition of a spring. Literally bounce.

Spring

An elastic device used to store or suppress mechanical force. Springs are used in vehicle suspensions where they act to support the chassis and buffer it from road forces. Some examples of springs are single leaf, multiple leaf, torsion bar, rubber block, and air-filled.

Torque Rod

Used variously on suspensions to limit torsional effects; many torque rods are integrally adjustable (threads) or adjustable using shims.