-Which of the Following Statements Is True

question 83

Multiple Choice

-Which of the following statements is true?

• A) Alpha and Beta must file a consolidated income tax return, but must exclude Gamma from the consolidated return.
• B) Alpha, Beta, and Gamma must file a consolidated income tax return.
• C) Alpha, Beta, and Gamma must file separate income tax returns because the ownership of Beta is less than 100%.
• D) Alpha, Beta, and Gamma will probably not file a consolidated income tax return.
• E) Alpha, Beta, and Gamma may file separate income tax returns or a consolidated income tax return.

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Definitions:

Substantial Harm

Significant or considerable damage, injury, or adverse impact.

Unfair Acts

Actions or practices by individuals or companies that are unjust, misleading, or fraudulent and harm consumers or competition.

Consent Order

A consent order is a legal document, approved by a judge, that formalizes an agreement between parties in a dispute without admitting guilt or liability.

Cease-and-Desist Order

A legal order issued by a court or government agency requiring a person or entity to stop a specified activity immediately.