The Tax Benefit Associated with a Year-To-Date Operating Loss Should

Multiple Choice

The tax benefit associated with a year-to-date operating loss should be recognized if:

A) ​the loss may be carried back to offset two prior years of income.
B) ​it is more likely than not that the benefit will be realized during the year.
C) ​it is more likely than not that the benefit will be realized against future income.
D) ​all of the above.