Question 5 12 pts If a company has previous net operating losses and it is currently not earning taxable income it likely has a net tax liability. True False D Question 1 12 pts Forecasting of revenue and expenses is done in isolation from a company's strategic and operating plans. True False Question 8 12 pts Equity buybacks always increase the enterprise value of a company which completes them. O True False Question 9 12 pts Assume the shareholders of a company file a lawsuit against its board of directors because the company has failed financially resulting in shareholder losses. The shareholders allege negligence on the part of the board. As long as the duties loyalty and of care are met, the business judgment rule places the burden of proof on the plaintiffs. O True O False