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:

World War II

A global conflict that occurred from 1939 to 1945, involving most of the world's nations and marked by significant events and atrocities, including the Holocaust.

Higher Needs

In Maslow's hierarchy, these are psychological needs relating to self-fulfillment, such as self-actualization and esteem needs, considered more complex than basic physiological or safety needs.

Actual Survival

The real, physical continuation of life or existence, especially under adverse conditions.

Hierarchy of Needs

A psychological theory proposed by Abraham Maslow that prioritizes human needs from the most basic physical needs to higher-level psychological needs and self-fulfillment.