Identify Which of the Following Statements Is True

question 3

Multiple Choice

Identify which of the following statements is true.

• A)To be part of an affiliated group, a corporation must be at least 80% directly owned by another group member.
• B)Only common stock is considered when determining if the 80% ownership test is met for affiliated group eligibility.
• C)An affiliated group electing to file a consolidated return may be composed of as few as two corporations.
• D)All of the above are false.

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Definitions:

Native American Graves Protection and Repatriation Act

A U.S. federal law passed in 1990 that mandates the return of Native American cultural items, including human remains and sacred objects, to their respective communities and descendants.

Cultural Items

Objects that hold significance within a culture, representing its values, traditions, or historical heritage.

Material Remains

Physical artifacts or evidence from past human activity, including buildings, tools, and pottery, used in archaeology.

Archaeological Site

Locations where remains of past human activities are preserved and which archaeologists study to understand historical cultures and civilizations.