Which of the Following Statements Is Incorrect with Respect to the Consolidated

question 63

Multiple Choice

Which of the following statements is incorrect with respect to the consolidated alternative minimum tax?

• A)A separate alternative minimum taxable income computation is made for each individual group member.These amounts are then totaled to arrive at consolidated alternative minimum taxable income.
• B)Positive adjustments that are made with respect to one group member can be offset by negative adjustments that are made with respect to another group member in computing consolidated alternative minimum taxable income.
• C)The affiliated group's alternative minimum tax payment is available as a credit against its regular tax amount in future tax years.
• D)The estimated tax payment rules apply to the alternative minimum tax.

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Definitions:

Ratio

A ratio represents a quantitative relationship between two or more numbers, showing how many times one value contains or is contained within the other.

Ratio

A mathematical term describing the quantitative relation between two amounts, showing the number of times one value contains or is contained within the other.

Equivalent Ratio

A proportion between two sets of quantities indicating their equality in value or function.

Smallest Term

In mathematics, it refers to the term in an expression, sequence, or series that has the smallest value.