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:

Loyal Supporter

An individual who steadfastly supports a cause, organization, or leader, often in the face of opposition.

Civil Code

A systematic collection of laws designed to comprehensively deal with the core areas of private law such as property, family, and contracts.

Patriarchal Beliefs

Cultural or societal norms and values that prioritize male authority and dominance in families, communities, and governance, often at the expense of women’s rights and equality.

Legal Dependent

An individual, often a child or spouse, who is legally recognized as being under the care and financial responsibility of another person or guardian.