ACC 401 Advanced Accounting

"Consolidated Financial Statements Ownership, Income Taxes, and Legal Reorganizations"

• Determine the fundamental advantages to a business combination of filing a consolidated tax return. Next, analyze the main reasons why members of a business combination file separate returns. Provide a rationale for your response.
• Differentiatebetweenthetwo(2)categoriesofliabilities(i.e.,fullysecuredandpartiallysecured)thathavepriorityinbusinessliquidation.Analyzethemainreasonswhyunsecuredcreditorsfavorreorganizinganinsolventcompanyratherthanforcingitintoliquidation.Providesupportforyourrationale.

less than 300 words its fine , thank you.