Parent Corporation Owns All of the Stock of Richards and Smith

question 73

Multiple Choice

Parent Corporation owns all of the stock of Richards and Smith Corporations on January 1. The three corporations have filed consolidated tax returns for a number of calendar years. Parent sells all of the stock of Richards Corporation on June 1. Parent purchases all of the stock of Taylor Corporation on September 1. Parent sells all of the stock of Smith Corporation on November 1. When does the affiliated group terminate?

• A)June 1
• B)September 1
• C)November 1
• D)The original affiliated group does not terminate.

---

Definitions:

Additively Mixing

The process of combining different wavelengths of light to create new colors, seen in technologies like computer screens and televisions.

Visual Cortex

The part of the brain responsible for processing visual information.

Optic Nerve

The nerve that transmits visual information from the retina to the brain.

Optic Chiasm

The part of the brain where the optic nerves partially cross, playing a crucial role in the visual system by combining visual information from both eyes.