Which of the Following Statements Is Incorrect with Respect to the Treatment

question 51

Multiple Choice

Which of the following statements is incorrect with respect to the treatment of net operating losses by corporations?

• A)A corporation may elect to forgo the carryback period and just carryforward an NOL.
• B)A corporation may claim a dividends received deduction in computing an NOL.
• C)An NOL is generally carried back 2 years and forward 20 years.
• D)Unlike individuals, corporations do not adjust their NOLs for net capital losses or nonbusiness deductions.
• E)None of the above.

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Definitions:

X-Games

An annual extreme sports event hosted, produced, and broadcast by ESPN, featuring competitions in skateboarding, BMX, motocross, snowboarding, and more.

Costa and McCrae

Psychologists who are best known for their development of the Five Factor Model of personality, which includes openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Adrenaline Rush

A sudden increase in energy and heart rate caused by the release of adrenaline, usually in response to stress or excitement.

Five Factors

Refers to the Big Five personality traits model, including openness, conscientiousness, extraversion, agreeableness, and neuroticism.