Identify Which of the Following Statements Is True

question 3

Multiple Choice

Identify which of the following statements is true.

• A)To be part of an affiliated group, a corporation must be at least 80% directly owned by another group member.
• B)Only common stock is considered when determining if the 80% ownership test is met for affiliated group eligibility.
• C)An affiliated group electing to file a consolidated return may be composed of as few as two corporations.
• D)All of the above are false.

---

Definitions:

Interwar Years

The period between the end of World War I in 1918 and the beginning of World War II in 1939, noted for political, economic, and social changes globally.

Consumerism

The societal trend that encourages the acquisition of goods and services in ever-increasing amounts.

Mass Culture

Cultural products and activities that are produced for and consumed by a large number of people across society.

Heroes

Individuals admired for their bravery, outstanding achievements, or noble qualities.