Match each of the following items with the appropriate description, indicating whether the item is computed on a group basis on a consolidated tax return.
-Net operating loss.
A)Group item
B)Not a group item

Question

Quizplus · Accepted Answer

Net operating loss is computed on a group basis on a consolidated tax return, as it takes into account the combined income and losses of all the companies within the group.

Match Each of the Following Items with the Appropriate Description