Why Might a Consolidated Group File Separate Income Tax Returns

question 59

Multiple Choice

Why might a consolidated group file separate income tax returns?

• A) There are no intra-entity transfers.
• B) There are no deferred intra-entity gross profits in ending inventory.
• C) One of the companies is a foreign company.
• D) Parent owns 68 percent of one company and 82 percent of another.
• E) All of these answer choices are correct.

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Definitions:

Backplane

A printed circuit board, located in the back of a chassis, that contains a data bus, power bus, and mating connectors for modules to be inserted in the chassis.

Field Input Devices

Equipment or sensors that capture and transmit data from the external environment into a processing system for analysis and action.

Output Devices

Output devices are hardware components used to communicate the results of data processing carried out by a computer system to the user or another machine, including printers, monitors, and speakers.

Ladder Logic

A programming methodology utilizing symbols resembling electrical relay diagrams to control industrial and mechanical processes.