exam 2 ch 14-18 take-home true-false

exam 2 ch 14-18 take-home true-false - Acct 4329.60 Spring...

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Acct. 4329.60, Spring 2007, Ortiz Name ________________________________ Exam 2 Take-home, Chapters 14-18 True/False Instructions: The following thirty five questions are part of the take-home portion of your third midterm exam. At the start of class on the exam date, please turn in your scantron and a printed copy of this exam with your written comments including any assumptions you considered necessary. Please check your course Faculty Web Page under “Other” for dates as well as an exam overview. This exam is to be an individual effort. Students are on their honor to do their own work, and to not discuss this exam with anyone other than the instructor prior to submission for grading. Thank you for your cooperation, and best of luck. 1. There is no tax on the first $400 of corporate taxable income. 2. The dividends received deduction is 70 percent of dividends received out of the earnings and profits of taxable, domestic corporations. 3. In a Code Sec. 351 transfer, liabilities cannot trigger gain, unless they exceed the aggregate basis of property transferred. 4. A shareholder recognizes no gain on a capital contribution to a corporation merely because he is a minority shareholder. 5.
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This note was uploaded on 05/04/2011 for the course ECON 222 taught by Professor Jeffery during the Spring '11 term at E. Stroudsburg.

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exam 2 ch 14-18 take-home true-false - Acct 4329.60 Spring...

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