Recognizing Tax Benefits in a Loss Year Due to a Net

question 86

Multiple Choice

Recognizing tax benefits in a loss year due to a net operating loss carryforward requires

• A)creating a tax refund receivable.
• B)footnote disclosure only.
• C)creating a deferred tax asset.
• D)creating a deferred tax liability.

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Definitions:

Associated Population

The group of all elements or individuals that share one or more characteristics, from which a sample may be drawn for a statistical study.

Statistic

A characteristic or measure obtained by using the data values from a sample.

Judgment Sampling

A non-probability sampling technique where the researcher selects units to be sampled based on their knowledge and professional judgment.

Stratified Random Sample

A method of sampling that involves dividing a population into smaller groups, known as strata, and then randomly selecting samples from each stratum.