A Net Operating Loss Carryover That Occurs in a Company's

question 22

Multiple Choice

A net operating loss carryover that occurs in a company's second year of operations

• A)May cause a company to report a tax benefit in the current period income statement.
• B)Has no effect on income tax expense of the current period because no taxes are paid.
• C)Causes a company to report a deferred income tax liability for taxes that are not paid currently.
• D)Results in future taxable amounts.