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'_ Statement 1: Operating loss can'y'tonvard is an excess of gross income over tax reductions in a year that may be carried forward to reduce

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'_ Statement 1: Operating loss can'y'tonvard is an excess of gross income over tax reductions in a year that may be carried forward to reduce taxable income in a tuture year. Statement 2: When the temporary difference reverses. the future taxable amount computed in the period origin becomes taxable and the future deductible amount computed in the period of origin becomes taxable. a. Statement 1 is true, Statement 2 is true b. Statement 1 is false, Statement 2 is false (2. Statement 1 is true, Statement 2 is false d. Statement 1 is false, Statement 2 is true

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