Why Might a Consolidated Group File Separate Income Tax Returns

question 63

Multiple Choice

Why might a consolidated group file separate income tax returns?

• A) There are no intra-entity transfers.
• B) There are no unrealized gains in ending inventory.
• C) One company is a foreign company.
• D) Parent owns 68 percent of one company and 82 percent of another.
• E) All of these.

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Definitions:

Deadlines

Specified times or dates by which tasks must be completed or objectives must be achieved.

Big Five

Big Five is a model describing five broad personality traits—openness, conscientiousness, extraversion, agreeableness, and neuroticism—that are used to understand and categorize human personality.

Trait Dimensions

aspects or characteristics that can vary within individuals, used in psychology to describe and differentiate between personalities.

Lie Scale

A tool used in questionnaires and psychological tests that helps to identify when respondents are not answering truthfully by measuring the tendency to give socially desirable responses.