Corporate taxpayers may offset capital losses only against capital gains and may carry excess losses back three years and then forward five years.
Answer the following statement true (T) or false (F)
True
Corporate taxpayers cannot deduct any net capital losses. Net capital losses can be carried back three years and forward five years.
You might also like to view...
Choose the statement that defenders of the circular flow model, which explains the nature of economic transactions in terms of a flow of resources from businesses to households, would agree with.
A. The possibility that the economy can grow indefinitely to keep up with significant population growth is ignored by this model. B. The services that resources yield can be provided in many ways by substituting different factors of production and are, therefore, infinite. C. Many resources like clean air, drinkable water, fertile soil, and food, under the circular flow model, cannot be replaced by the remaining factors of production. D. If resources are moved through the classical model of a productive system at a rate that outpaces the productive capacity of the earth or the earth's capacity to absorb wastes and by-products of the system, the entire classical model will prove unstable.
Government organizations typically require suppliers to submit bids, and normally they award the contract to the lowest bidder
Indicate whether the statement is true or false
When can an accountant release audit working papers?
a. Only when a client consents. b. Only when a court orders disclosure. c. At any time at the discretion of the accountant. d. Either when a client consents or when a court orders disclosure.
________ is discord arising from the incompatibility of goals of different individuals and their attempts to thwart each other's pursuit of objectives.
A. Workplace bullying B. Social loafing C. Accommodation D. Workplace harassment E. Organizational conflict