A Net Operating Loss (NOL)occurs When Taxable Income for Any

question 12

True/False

A net operating loss (NOL)occurs when taxable income for any year is negative because itemized deductions and total exemptions exceed business income.

---

Definitions:

Posttraumatic Stress Disorder

A mental health disorder triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, and severe anxiety.

Diagnostic Criterion

Specific guidelines and characteristics used to make a formal diagnosis of mental disorders or medical conditions.

Significant Distress

A substantial level of suffering or discomfort, either emotional or physical, that notably impacts an individual's daily functioning.

Impairment

A reduction in the ability or function of physical or mental processes, often impacting daily activities or quality of life.