Fleming Corporation, a U.S. multinational, has pretax U.S. source income and foreign source income as follows: U.S. source income$1,000,000 Foreign source income-Country A 500,000 Total$1,500,000 Fleming paid $50,000 income tax to Country A. If Fleming takes the foreign tax credit, compute its worldwide tax burden as a percentage of its pretax income.
A. 33%
B. 34%
C. 21%
D. 17.33%
Answer: C
You might also like to view...
Program ROI is determined by which of the following?
a. Additional profit generated/program investment b. # of customers lost/total # of customers c. # new customers generated/program investment d. # of key customers/total # of customers
The ________ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted.
A. Promotion B. Product C. People D. Place E. Price
The pecking order explanation of capital structure states that a hierarchy of financing exists for firms, in which retained earnings are employed first, followed by debt financing and finally by external equity financing
Indicate whether the statement is true or false
When making a difficult ethical decision, you should narrow the stakeholders involved to those that will be most affected by the action
Indicate whether the statement is true or false