Examlex
Current assets are those assets that are realised or consumed within an entity's operating cycle.
Carryforwards
Tax provisions that allow firms to use current year's net operating losses to reduce taxable income in future periods.
Tax Loss
A loss that can be used to offset taxable income, thus reducing the taxes owed by an individual or corporation.
Government
A system or group of people governing an organized community, often a state.
Tax System
The legal framework and set of rules governing how taxes are collected and managed by a governing authority.
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