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"Consolidated Financial Statements - Ownership, Income Taxes, and Legal Reorganizations" Determine the fundamental advantages to a business...

I need the attached discussion question which is in two parts, done by Wednesday, November 11. Please provide at least 2 paragraphs per part. If possible use GAAP references.

"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. Differentiate between the two (2) categories of liabilities (i.e., fully secured and partially secured) that have priority in business liquidation. Analyze the main reasons why unsecured creditors favor reorganizing an insolvent company rather than forcing it into liquidation. Provide support for your rationale.
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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....

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