What are the chances that a company will have 20 years of, Ask an Expert

Accounting

a) How would you describe the difference between a tax refund and a tax benefit?

b) What are the chances that a company will have 20 years of losses to actually use a loss carryforward (and still be in business)? How do accounting principles support holding an asset on the balance for this long?

c) There are situations where using the carryforward (even when carryback is available) makes more sense. What role do anticipated or known future tax rates play in the decision?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9284233

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