Identify Which of the Following Statements Is True

question 64

Multiple Choice

Identify which of the following statements is true.

• A)A corporate NOL can be carried back two years and forward 15 years.
• B)An election to forgo an NOL carryback must be made on or before the return due date (including extensions)for the year in which the NOL is incurred.
• C)In computing an NOL for the current year,a deduction is allowed for NOLs from previous years.
• D)All of the above are false.

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Definitions:

Genetic Factors

Aspects of an individual's genes or hereditary influence that affect their physical and mental characteristics, health conditions, and susceptibilities.

Love Withdrawal

A form of psychological punishment where love, support, or approval is withheld to control or influence behavior.

Inductive Technique

A reasoning approach that moves from specific instances to a generalized conclusion or theory.

Warmth-coldness

A psychological dimension characterizing interpersonal relationships or personality traits, ranging from warmth (friendly, compassionate) to coldness (unfriendly, indifferent).