Keep Corporation Joined an Affiliated Group by Merger in 2014

question 117

True/False

Keep Corporation joined an affiliated group by merger in 2014. The group generated a consolidated 2014 NOL, and Keep's share of the loss was $50,000. Lacking an election by the parent to the contrary, Keep can carry the loss back to its separate 2012 return, and the parent can claim a tax refund.

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Definitions:

16 PF

A personality test that assesses sixteen primary personality factors, based on Raymond Cattell's trait theory.

16 PF

A personality test that measures 16 primary personality factors or traits.

Maslow's Hierarchy

A theory proposed by Abraham Maslow outlining a hierarchy of human needs, from basic physiological needs to self-actualization, suggesting that higher needs become motivational only after lower needs are satisfied.

Higher Needs

Advanced psychological needs such as self-actualization and esteem needs, following basic physiological and safety needs in Maslow's hierarchy.