In 2016, Jones Inc. generated a $25,000 net operating loss. Which of the following statements is false?

	a.	If Jones can carry the entire NOL back to deduct in 2014, the NOL will have no deferred tax consequences in 2016
	b.	If Jones cannot use any of the NOL as a carryback deduction, the NOL will result in a deferred tax liability
	.	c. Jones can elect to give up the carryback of the NOL to 2014 and 2015
	d.	If Jones cannot use any of the NOL as a carryback deduction, it can carry the NOL forward for 20 years
	e.	None of these is false