If P, S, and T File a Consolidated Tax Return

question 7

Multiple Choice

If P, S, and T file a consolidated tax return on a calendar year basis, and P sells the stock of S on October 1, then:

• A)S must file a separate return for the period of Jan.1-Oct.1.
• B)T must file a separate return for the period of Oct.2-Dec.31.
• C)P must file a separate return for the period of Oct.2-Dec.31.
• D)S must file a separate return for the period of Oct.2-Dec.31.
• E)P must file a separate return for the period of Jan.1-Oct.1.

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Definitions:

Positive Reinforcement

A technique used in behavior modification that increases the likelihood of a behavior by associating it with a positive outcome or reward.

Negative Reinforcement

A behavioral principle where a response is strengthened by the removal or avoidance of an unpleasant stimulus.

Desired Response

The specific reaction or outcome that is aimed for or anticipated in a particular situation, experiment, or communication.

Secondary Reinforcer

An artificial or learned stimulus that gains its reinforcing power through its association with a primary reinforcer, often used in behavior modification programs.