An Affiliated Group Elects the Use of the Consolidated Method

question 72

Multiple Choice

An affiliated group elects the use of the consolidated method for filing its tax return by

• A)filing Form 1120.
• B)filing a consent to the election from each member of the affiliated group in the initial year.
• C)filing an affiliations schedule.
• D)All of the above are necessary for the election.

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Definitions:

Electron

A subatomic particle with a negative electric charge, fundamental to electrical phenomena and components of atoms.

Electroplating

A process that uses electric current to deposit a thin layer of metal onto a conductive surface, typically for protective, decorative, or functional purposes.

Pure

Refers to a substance that is not mixed with any other substance, having a homogenous chemical composition.

Ionization

The process by which an atom or a molecule acquires a negative or positive charge by gaining or losing electrons.