Which of the Following Statements Is False for a C

question 66

Multiple Choice

Which of the following statements is false for a C corporation that incurred a net operating loss for a tax year ending in 2017?

• A)If it carries back the NOL and/or carries it forward,it may offset up to 80% of the taxable income (before the NOL deduction)in those years.
• B)It may carry the NOL forward for up to 20 years and offset up to 100% of the taxable income (before the NOL deduction)in those years.
• C)It may carry the NOL back two years and offset up to 100% of the taxable income (before the NOL deduction)in those years.
• D)None of these (selecting this option means you believe all of these responses are true).

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Definitions:

Schizophrenia

A chronic and severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Obsessive-compulsive Disorder

A mental disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions) that the person feels driven to perform.

Electroconvulsive Therapy

A psychiatric treatment involving electrically induced seizures to provide relief from mental disorders.

Brain Damage

Injury to the brain that impairs its functions, potentially resulting in altered behavior, cognition, and physical abilities.