Identify Which of the Following Statements Is True

question 61

Multiple Choice

Identify which of the following statements is true.

• A)When a new corporation joins an affiliated group, all of its income and expense items for the tax year, including the acquisition date, must be allocated between the separate tax return and consolidated tax return that are to be filed based on the number of days included in each of the two tax years.
• B)A consolidated return election may be revoked after 5 years.
• C)All members of a consolidated group must use the same tax year.
• D)All of the above are false.

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Definitions:

Civil Disputes

Conflicts between individuals or organizations that are resolved in civil courts, as opposed to criminal matters.

Battery Case

A legal dispute or instance involving the unconsented physical contact or harm to another person.

Question Of Fact

An issue to be decided by the jury in a trial concerning the reality of events or the existence of conditions.

Court

A governmental institution authorized to decide legal disputes, administer justice, and interpret laws.