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