Which of the Following Statements Is Incorrect with Respect to the Treatment

question 51

Multiple Choice

Which of the following statements is incorrect with respect to the treatment of net operating losses by corporations?

• A)A corporation may elect to forgo the carryback period and just carryforward an NOL.
• B)A corporation may claim a dividends received deduction in computing an NOL.
• C)An NOL is generally carried back 2 years and forward 20 years.
• D)Unlike individuals, corporations do not adjust their NOLs for net capital losses or nonbusiness deductions.
• E)None of the above.

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Definitions:

Business Intelligence

The technologies and strategies a business employs to analyze data related to its operations, aiming to improve decision-making and performance through actionable insights.

Corruption

The abuse of entrusted power for private gain, which can occur in both the public and private sectors.

Economic Espionage

The illegal act of stealing or attempting to steal trade secrets or proprietary information from a company for economic gain.

Utilitarianism

An ethical theory that suggests an action is right if it benefits the greatest number of people.