Which statement about NOL carrybacks and NOL carryforwards is not true? a Carrybacks...
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Accounting
Which statement about NOL carrybacks and NOL carryforwards is not true?
a Carrybacks are not currently permitted under the U.S. tax code.
b Carryforwards result in cash refunds in taxable loss years.
c Carrybacks result in cash refunds in taxable loss years.
d Carrybacks and carryforwards can both result in a company reporting a negative income tax expense.
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