A Net Operating Loss (NOL)occurs When Taxable Income for Any

question 12

True/False

A net operating loss (NOL)occurs when taxable income for any year is negative because itemized deductions and total exemptions exceed business income.

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Definitions:

Biologically Determined

Traits, characteristics, or behaviors that are influenced by genetic makeup rather than environmental factors.

Socially Defined

Refers to concepts, roles, or norms that are constructed and recognized within a society or culture.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity, including social roles, behaviors, and identities.

Sex

A biological characteristic defining organisms based on their reproductive functions and structures; also refers to activities related to sexual intercourse.