A Corporation's Election to Forego a Net Operating Loss Carryback

question 8

True/False

A corporation's election to forego a net operating loss carryback is irrevocable and cannot later be changed.

---

Definitions:

Heredity

The transmission of physical or mental traits from one generation to the next through genetics.

Active Role

Participation or involvement in a process or situation where the individual takes initiative and contributes significantly.

Age-graded Influences

Social and cultural factors that are expected to occur at specific ages in a person's life.

Bronfenbrenner's Theory

A theoretical model that explores how different environmental systems influence human development, formulated by Urie Bronfenbrenner.