Blair and Cannon Corporations Are Members of an Affiliated Group

question 23

Multiple Choice

Blair and Cannon Corporations are members of an affiliated group.No prior net Sec.1231 losses have been reported by any group member.The two corporations report consolidated ordinary income of $100,000 and gains and losses from property transactions as follows. Which of the following statements is correct?

• A)The consolidated group reports a net short-term capital gain of $1,000.
• B)Blair Corporation's separate return reports a $4,000 net long-term capital gain.
• C)Cannon Corporation's separate return reports a $1,000 net long-term capital loss.
• D)All three of the above are correct.

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Definitions:

Reward Performance

The practice of recognizing and compensating employees based on their work performance, often aimed at motivating and retaining talent.

Poor Productivity

Lower than expected or desired output or efficiency from a worker or group of workers, affecting overall organizational performance.

Indirect Discrimination

A type of discrimination that occurs when policies, practices, rules, or measures that appear neutral result in unequal treatment or impacts on a particular group without justification.

Anti-Harassment Policies

Guidelines and procedures implemented by organizations to prevent harassment and provide measures to deal with it if it occurs.