Subsidiary Holds an Allocated Net Operating Loss NOL) When It

question 51

Multiple Choice

Subsidiary holds an allocated net operating loss NOL) when it leaves the Parent consolidated group. As a result:

• A) The group keeps Subsidiary's allocated loss.
• B) Subsidiary takes its allocated NOL and uses it on subsequent separate tax returns.
• C) The loss is suspended for five years in case Subsidiary rejoins the group; then Parent can use it.
• D) The loss is suspended for five years in case Subsidiary rejoins the group. At that time, Subsidiary uses the loss on its separate return.

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Definitions:

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, assigning weights to some numbers more than others.

FOB Shipping Point

This term indicates that the buyer is responsible for the goods and their shipping costs as soon as the goods leave the seller's premises.

Net Income

The total earnings of a company after all expenses and taxes have been subtracted from total revenue.