Identify Which of the Following Statements Is True

question 64

Multiple Choice

Identify which of the following statements is true.

• A)A corporation may be required to file a separate return and file with an affiliated group in the same calendar year.
• B)When a corporation joins in filing a consolidated return, taxable income of the member is combined with other members' taxable income prior to any adjustments.
• C)If a corporation becomes a member of an affiliated group within the first thirty days of the corporation's tax year, the corporation can elect not to file a short-period tax return.
• D)All of the above are false.

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Definitions:

Negative-feedback

A regulatory mechanism in biological systems where the output of a process inhibits or lessens the process's activity.

Neural-feedback

A process through which information about the output of a neural system is returned to it, to adjust its future output and behavior.

Positive-feedback

A biological mechanism whereby a stimulus intensifies the production of a product, leading to an amplification effect in the system.

Lipid-soluble Hormones

Hormones that can pass through the lipid bilayer of cell membranes and are usually transported in the bloodstream bound to carrier proteins.