A Federal Consolidated Group Reported the Following Taxable Income Amounts $$\begin{array} { l l } \text { Parent } & ( \$ 400,000 ) \\\text { Junior } & ( \$ 600,000 ) \\\text { Minor } & \$ 100,000\end{array}$$

question 18

Multiple Choice

A Federal consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss NOL) that is apportioned to Parent.

• A) $360,000.
• B) $400,000.
• C) $500,000.
• \[\begin{array} { l l }
• \text { Parent } & ( \$ 400,000 ) \\
• \text { Junior } & ( \$ 600,000 ) \\
• \text { Minor } & \$ 100,000
• \end{array}\]
• D) $900,000. All NOLs of a consolidated group are apportioned to the parent.

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Definitions:

Union Army

The land force that fought for the Union during the American Civil War, comprised mainly of troops from the Northern states.

Blacks Served

Refers to African Americans who served, particularly in the military context, across various American conflicts, highlighting their contributions despite facing racial discrimination.

Antietam Victory

Marks the victory of Union forces during the Battle of Antietam in the Civil War, which represents one of the bloodiest single-day battles in American history.

Robert E. Lee's Army

The principal military force of the Confederate States of America under the command of General Robert E. Lee during the American Civil War.