A b c d personal service corporations yes no yes no

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Unformatted text preview: duction or as a credit, at the option of the corporation. May be claimed only as a deduction. May be claimed only as a credit. Do not qualify either as a deduction or as a credit. CPA-02232 Explanation Choice "a" is correct. Rule: Foreign income taxes paid by a domestic corporation may be claimed either as a deduction or as a credit, at the option of the corporation. Choices "b", "c", and "d" are incorrect, per the above rule. 57 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. Maxixishere Pdf Collection Becker CPA Review, PassMaster Questions Lecture: Regulation 3 CPA-02234 Type1 M/C 114. CPA-02234 A-D May 91 II #54 Corr Ans: D PM#20 R 3-99 Page 39 The following information pertains to Hull, Inc., a personal holding company, for the year ended December 31, 1990: Undistributed personal holding company income Dividends paid during 1990 Consent dividends reported in the 1990 individual income tax returns of the holders of Hull's common stock, b...
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This note was uploaded on 06/14/2013 for the course ACCOUNTING Regulation taught by Professor Becker during the Fall '10 term at Keller Graduate School of Management.

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