Which of the following statements appropriately describe the different effects of operating loss carrybacks and carryforwards?

a. operating loss carrybacks result in a retrospective asset and operating loss carryforwards result in a prospective asset.

b. operating loss carrybacks result in a deferred tax asset and operating loss carryforwards result in a deferred tax liability.

c. operating loss carrybacks result in a current asset and operating loss carryforwards result in a deferred tax asset.

d. operating loss carrybacks result in a deferred tax liability and operating loss carryforwards result in a deferred tax asset.