For a corporation, which of the following statements is INCORRECT:

Question $2$Answer

a$.$

Capital losses can be carried back three years and carried forward indefinitely.

b$.$

Non$-$capital losses can be carried back three years and carried forward $20$ years.

c$.$

Capital losses can only be applied against taxable capital gains.

d$.$

Non$-$ capital losses can only be applied against business income.

e$.$

Non$-$capital losses can be applied against any source of incomE