Examlex
Which of the following is true regarding horizontal adduction?
Net Operating Loss Carryforward
This is a tax provision that allows a company to apply a tax year's net operating losses to future years' profits in order to lower tax liabilities.
US GAAP
The Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in the financial reporting of companies.
IFRS
International Financial Reporting Standards, a set of accounting principles that provide guidelines for financial reporting and are recognized globally.
Deferred Taxes
Deferred taxes are future tax liabilities or assets, reflecting the temporary differences between the accounting income and taxable income.
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