What is the name of the accounting convention that allows a firm to offset the losses that were incurred against future income rather than receive a refund of taxes paid?

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Tax-loss carry-forward is the accounting convention that allows a firm to offset the losses that were incurred against future income rather than receive a refund of taxes paid. Option A, tax credit, refers to a dollar-for-dollar reduction in tax liability, while option B, itemized deductions, refers to expenses that can be subtracted from taxable income. Option D, a write-down, refers to a reduction in the value of an asset on the balance sheet.

What Is the Name of the Accounting Convention That Allows