Any Unused General Business Credit Must Be Carried Back 1

question 30

True/False

Any unused general business credit must be carried back 1 year and then forward for 20 years.

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Definitions:

Collectivism

An ideology that emphasizes the group and its interests over the individual, often found in social, political, or cultural contexts.

Multinational Venture

A business operation that involves partnership or investment across multiple countries.

Global Company

A business that operates and sells products or services in multiple countries across the world, often managing a complex web of international supply chains and markets.

Centrally Managed

The control and decision-making process of an organization or system consolidated at a central point or by a central authority.