Which of the Following Statements Is True for a C

question 70

Multiple Choice

Which of the following statements is true for a C corporation incurring a net operating loss (NOL) for a tax year that begins in 2018?

• A)It may carry the NOL back two years and forward 20 years.
• B)It may not carry the NOL back to prior years but it may carry it forward 20 years.
• C)It may not carry the NOL back to prior years but it can carry the loss forward indefinitely.
• D)It may carry the loss back two years and carry the loss forward indefinitely.
• E)None of the choices are correct.

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Definitions:

Consumer Oriented

Refers to a business approach that prioritizes understanding and meeting the specific needs and wants of consumers.

Outsourcing

The business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees.

Customer Service

The support and assistance provided by a company to those people who buy or use its products or services.

Intellectual Capabilities

The cognitive abilities and skills of an individual to perform tasks, solve problems, and create value through intellectual effort and creativity.