Assume There Is an Interim Year-To-Date Operating Loss and a Potential

question 44

Multiple Choice

Assume there is an interim year-to-date operating loss and a potential tax benefit associated with this loss.Which of the following is true?​

• A)​The year-to-date loss is completely deductible at year end.
• B)​The benefit associated with a year-to-date loss should be recognized if it is expected to be realized during the year and the benefit is recognizable as a deferred tax asset at the end of the year.
• C)​No interim year-to-date losses can be carried back against any prior year's income.
• D)​A current year-to-date interim loss may not be offset entirely by income in later interim periods of the current fiscal year.

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