While a C Corporation's Losses Cannot Be Used by Their

question 55

Multiple Choice

While a C corporation's losses cannot be used by their shareholders to offset personal income, a C corporation may carry back and carry forward losses to help offset the taxable income a corporation had or will have. How are these net operating losses carried back and carried forward?

• A) Carried back two years, carried forward indefinitely
• B) Carried back indefinitely, carried forward two years
• C) Carried back two years, carried forward five years
• D)Carried back two years, carried forward twenty years
• E)None of these

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Definitions:

Saccadic Eye Movements

Rapid, jerky movements of the eyes used in scanning the environment, reading, or looking from one point to another.

Memory Trace

An assumed change in the nervous system that reflects the impression made by a stimulus.

Paired Associates

Nonsense syllables presented in pairs in experiments that measure recall.

Encodes

The process by which genetic information is chemically converted into RNA and protein in living organisms, or, more broadly, the process of converting data into a particular form.