Which of the Following Is Not Generally a Disadvantage of Filing

question 25

Multiple Choice

Which of the following is not generally a disadvantage of filing Federal corporate income tax returns on a consolidated basis?

• A) Net capital losses from one affiliate can offset the capital gains from another. This can reduce the tax liabilities of the group as a whole.
• B) Realized losses from transactions between affiliates are not recognized immediately.
• C) Compliance costs usually are higher when a consolidation election is in effect.
• D) The election generally is binding for future tax years.

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Definitions:

Genotype

The genetic constitution of an individual organism, determining specific characteristics when interacting with the environment.

Incomplete Dominance

A genetic phenomenon in which neither allele of a gene completely masks the other in a heterozygote, resulting in a phenotype that is a blend of the two alleles.

True-breeding

Referring to organisms that, when bred, produce offspring identical to themselves in regards to certain traits over many generations.

Pink Flowers

Plants characterized by their pink-colored blossoms, which result from varying pigment concentrations and can be found in numerous species across different habitats.