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.

---

Definitions:

Depression

A psychological condition marked by a continuous low mood or lack of motivation in tasks, leading to considerable disruption in daily functioning.

Aggressive-rejected

A social categorization describing children or individuals who are excluded by peers because of their hostile or aggressive behavior.

Impulsive

Characterized by actions taken without forethought or consideration of the consequences, often based on immediate desires or feelings.

Hyperactive

Exhibiting excessive activity or movements, often associated with difficulty in maintaining focus or sitting still.