A Net Operating Loss (NOL) Carryforward Creates a Deferred Tax

question 42

True/False

A net operating loss (NOL) carryforward creates a deferred tax liability that should be classified as current to the extent that the NOL will be recovered in the following year.

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Administrative Law Judge

An official who presides over federal, state, or local administrative hearings and has the authority to make decisions on disputes involving administrative laws.

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A federal agency of the United States Department of Health and Human Services responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter pharmaceutical drugs, vaccines, biopharmaceuticals, blood transfusions, medical devices, electromagnetic radiation emitting devices (ERED), cosmetics, animal foods & feed, and veterinary products.

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