Identify Which of the Following Statements Is True

question 64

Multiple Choice

Identify which of the following statements is true.

• A)A corporation may be required to file a separate return and file with an affiliated group in the same calendar year.
• B)When a corporation joins in filing a consolidated return, taxable income of the member is combined with other members' taxable income prior to any adjustments.
• C)If a corporation becomes a member of an affiliated group within the first thirty days of the corporation's tax year, the corporation can elect not to file a short-period tax return.
• D)All of the above are false.

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Definitions:

NDP

An abbreviation for the New Democratic Party, a social democratic political party in Canada.

Political Affiliation

An individual's alignment or support for a particular political party or ideology.

Electrical Connectors

Devices that join electrical circuits together, allowing electricity to flow from one element to another.

Supplier B

A reference to an unnamed second supplier in a given context, possibly in comparison to other suppliers.