Which of the Following Corporations Is an Includible Corporation for Purposes

question 51

Multiple Choice

Which of the following corporations is an includible corporation for purposes of filing a consolidated tax return?

• A)insurance companies
• B)S corporations
• C)car manufacturing corporation
• D)foreign corporations

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Definitions:

Accounts Payable

Money owed by a company to its creditors for goods or services that have been received but not yet paid for.

Prepaid Insurance

An asset account that represents insurance payments made in advance of the period in which the insurance coverage applies.

Cash Amount

The total value of cash on hand, including currency, coins, and balances in demand deposit accounts.