Match each of the following terms with the appropriate description in the context of a consolidated Federal income tax return.
-Choice of tax year-ends by affiliates.
A)Advantage of consolidating
B)Disadvantage of consolidating
C)Neither an advantage nor a disadvantage

Question

Quizplus · Accepted Answer

When affiliates consolidate, they must adopt the same tax year-end, which can be a disadvantage if affiliates have different optimal tax year-ends.

Match Each of the Following Terms with the Appropriate Description