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Which of the following statements does not accurately describe the accounting for net operating losses? The net operating loss must be carried back two years.
Which of the following statements does not accurately describe the accounting for net operating losses?
The net operating loss must be carried back two years.
The deferred income tax asset must be allocated between the current and noncurrent balance sheet classifications.
A firm must assess future profitability when determining the amount of a deferred income tax asset.
The net operating loss can be both carried forward and backward.
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