Identify Which of the Following Statements Is True

question 101

Multiple Choice

Identify which of the following statements is true.

• A)The parent corporation may elect that the affiliated group use its NOL as a carryforward only.
• B)A portion of a consolidated NOL can be carried back or forward to a separate return year of an individual group member.
• C)The entire consolidated NOL may be available as a carryback or a carryover to a separate return year of one of the members of an affiliated group.
• D)All of the above are true.