Which of the Following Is Not Generally a Disadvantage of Filing

question 36

Multiple Choice

Which of the following is not generally a disadvantage of filing Federal corporate income tax returns on a consolidated basis?

• A)Compliance costs usually are higher.
• B)Realized losses from transactions between affiliates are not recognized immediately.
• C)The election generally is binding for future tax years.
• D)Gains from one affiliate can be offset by losses from another.This reduces the tax liabilities of the group as a whole.

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Definitions:

Cephalization

The evolution of a head; the concentration of nervous tissue and sense organs at the front end of the animal.

Natural Selection

The process by which organisms that are better adapted to their environment survive and reproduce more successfully than less well-adapted organisms.

Noogenesis

The process of mental or intellectual generation, encompassing creativity, cognition, and conscious thought.

Ecdysozoa Clade

A group of protostome animals, including arthropods and nematodes, characterized by periodic molting of their exoskeleton.