A Net Operating Loss Carryover That Occurs in a Company's

Multiple Choice

A net operating loss carryover that occurs in a company's second year of operations

A) May cause a company to report a tax benefit in the current period income statement.
B) Has no effect on income tax expense of the current period because no taxes are paid.
C) Causes a company to report a deferred income tax liability for taxes that are not paid currently.
D) Results in future taxable amounts.