Identify which of the following statements is false.
A) The 50% dividends-received deduction is limited to 50% of the taxable income of the corporation without regard to any NOL deduction, any capital loss carryback, and the dividends-received deduction itself unless the dividends-received deduction produces an NOL.
B) Members of an affiliated group can claim a 90% dividends-received deduction for dividends received from other group members that is not subject to a taxable income limitation.
C) A corporate dividends-received deduction is not allowed for dividends received on stock held for 40 days.
D) All of the above are false.
B) Members of an affiliated group can claim a 90% dividends-received deduction for dividends received from other group members that is not subject to a taxable income limitation.
You might also like to view...
Which element below is defined as the motivation we derive from stretching and exercising our capabilities?
A. need for capability B. need for self-determination C. need for competence D. need for adequacy
In Germany, Italy, Japan and the Russian Federation. What does the UN project will happen to the working age population ,people between the ages of 15 to 64?
a. Grow b. Decline c. Stay the same d. They are not sure
An example of a discretionary cost is the cost of research and development.
Answer the following statement true (T) or false (F)
Meister Bros. shipped 250 radiator belts to fill Braybon's order. Quality control measures had been in place in Meister's factory when the belts were manufactured. When Braybon received the order one day before it was due, it notified Meister that it rejected the belts because of a variation from the contract specifications. Meister, although it believed the original belts met the contract
specifications, notified Braybon that it would supply conforming goods within one week. When the conforming goods arrive in one week: a. Braybon must accept them, but does not have to pay the full price because the contract deadline has passed. b. Braybon does not have to accept them because Meister Bros. only has one chance to fill the order correctly. c. Braybon should accept them because Meister Bros. has a right to cure even after the contract deadline under these circumstances. d. Braybon does not have to accept them because Meister Bros. failed to meet its UCC requirement to deal in good faith.