While a C Corporation's Losses Cannot Be Used by Their

question 55

Multiple Choice

While a C corporation's losses cannot be used by their shareholders to offset personal income, a C corporation may carry back and carry forward losses to help offset the taxable income a corporation had or will have. How are these net operating losses carried back and carried forward?

• A) Carried back two years, carried forward indefinitely
• B) Carried back indefinitely, carried forward two years
• C) Carried back two years, carried forward five years
• D)Carried back two years, carried forward twenty years
• E)None of these

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Definitions:

Bacterial Strains

Subgroups within bacteria species that, while genetically similar, can exhibit variations in morphology, physiology, or pathogenicity.

Antibiotics

Medicinal drugs used to treat or prevent bacterial infections by killing or inhibiting the growth of bacteria.

Improved Sanitation

The development and implementation of measures designed to improve public health by providing cleaner water and reducing exposure to waste.

DDT

Dichloro-diphenyl-trichloroethane, a synthetic chemical compound once widely used as an insecticide, later banned in many countries due to its environmental and health impacts.