Assuming no other deferred tax items exist in a particular year, a net operating loss (NOL) carryforward can only be result in the balance sheet at the end of the NOL year showing:

Question

Quizplus · Accepted Answer

A net operating loss (NOL) carryforward creates a noncurrent deferred tax asset because it represents the future tax benefits from losses that can be used to offset taxable income in future years, beyond the next twelve months.

Assuming No Other Deferred Tax Items Exist in a Particular