Identify Which of the Following Statements Is True

question 1

Multiple Choice

Identify which of the following statements is true.

• A) 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.
• 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) A corporation may be required to file a separate return and file with an affiliated group in the same calendar year.
• D) All of the above are false.

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Definitions:

Behavior Therapy

A form of psychotherapy that focuses on changing maladaptive behaviors through conditioning and reinforcement methods.

Systematic Desensitization

A therapy technique used to treat phobias and anxiety, involving gradual exposure to the feared object or situation while practicing relaxation techniques.

Phobia of Closed Spaces

A phobia of closed spaces, commonly known as claustrophobia, is an anxiety disorder characterized by an irrational fear of being confined in small or enclosed spaces.

Cognitive Therapy

A form of psychotherapy that emphasizes the role of thinking in how we feel and in what we do, aimed at changing negative patterns of thought.