Identify Which of the Following Statements Is True

question 10

Multiple Choice

Identify which of the following statements is true.

• A) The check- the- box regulations permit partnership and LLCs to elect C corporation tax treatment.
• B) A group of corporations that meets the parent- subsidiary controlled group requirements is always eligible to file a consolidated return.
• C) If 100% of the stock of two corporations is owned by the same individual, the two corporations are eligible to file a consolidated return.
• D) All of the above are false.

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Definitions:

Direct Evidence

Information or testimony that directly supports the truth of an assertion, without needing inference or presumption.

Paralegal

A legal professional who performs substantive legal work under the guidance of an attorney but is not licensed to practice law.

Small Claims Court

A local court where individuals can pursue low-value civil claims without the need for extensive legal representation.