Identify Which of the Following Statements Is True

question 71

Multiple Choice

Identify which of the following statements is true.

• A) A member of an affiliated group can elect to carry back its own separate return losses from a consolidated return year to one of its earlier profitable separate return years.
• B) The basic dividends- received deduction rules generally do not apply to the calculation of the consolidated dividends- received deduction.
• C) A consolidated NOL is computed in part by including the consolidated capital gain in taxable income.
• D) All of the above are false.

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Definitions:

Award

A recognition or prize given for achievement, or in legal contexts, the resolution and determination provided by an arbitrator or judge.

Plaintiff

The person or party who initiates a lawsuit against another in a court of law.

Defendant

A person, business, or organization being charged or sued in a legal court.

Monetary Compensation

Monetary compensation is financial payment received by an individual or group for services rendered, losses incurred, or as a reward for performance.