Identify Which of the Following Statements Is True

question 25

Multiple Choice

Identify which of the following statements is true.

• A)Rules for carryforward and carryback of a consolidated net capital loss and a consolidated NOL are the same with the exception of the carryforward period.
• B)Capital loss carrybacks and carryforwards are all treated as short-term capital losses.
• C)A member leaving an affiliated group cannot use capital loss carryovers that originated in one of its previous separate return years.
• D)All of the above are false.

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Definitions:

Ex-Ship

A term from international trade indicating that the seller's responsibility ends once the goods are available for unloading from the ship at the destination port.

F.O.B.

A shipping term indicating that the seller is responsible for the cost of loading goods onto a vessel, with the buyer assuming the risk and transportation cost once onboard.

Manifestation

The act of displaying or showing a quality or feeling through one's actions or appearances.

Unwillingness

The state of being reluctant or disinclined to do something.