1 Which statement best descrives the concept if the "double


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Can you please help me complete this assignment with multiple choice questions? The file is in an excel file and has 2 sheets. 1st sheet has questions that are answer and go. 2nd sheet has questions that I need you to show me your calculations. MC Study Guide.xlsx 1 Which statement best descrives the concept if the "double taxation" of corporation income? A. Corporate income is subject to two levels of taxation: the regular tax and the alternative minimum tax B. Corporate income is taxed twice at the corporate level: first when earned and than a second time if appreciat C. Corporate income is taxed when earned by a C corporation and then a second time at the shareholder level w D. Corporate income is a subject to two levels of taxation; at the federal level and a second time at a state level 2 Which of the following forms of earnings distributions would not be subject to double taxation at the corporate A. Dividend B. Stock redemption C. Partial liquidation D. Compensation paid to a shareholder/employee of the corporation 3 Which of the following statements best describes the priority of the tax treatment of a distribution from a corpo A. the distribution is a dividend to the extent of the corporations earnings and profits, than a return of capital, a B. The distribution is a return of capital, than a dividend to the extent of the corporations earnings and profits an C. The distribution is a return of capital thn gain from sale of stock and finally a dividend to the extent of the cor D. the shareholder can elect to treat the distribution as either a dividend to the extent of the corporations earni following by gain from sale of stock 4 A calendar year corporation has negative current e&p of $500 and accumulated positive e&p of $1,000. the corp to its sole shareholder. Which of the following statements is true A. 500 will be a dividend because total earnings and profits is 500 B. 0 will be a dividend because current earnins and profits are negative C. 600 will be a diidend because accuulated earnings and profits is 1,000 D. up to 600 could be dividend depending on the balance in accumulated earnings and profits on the date of the 5 Which of the following payments could be treated as a constructive dividend by the IRS? A. end of year bonus payment to a shareholder/employee B. rent paid to a shareholder/lessor C. Interest paid to a shareholder/creditor D. All of the above 6 Which of the following factors would not be considered in determining if compensation paid to a shareholder/e A. the individuals duties and responsibilities B. what infividuals performing in comparable capacities at other companies are paid C. Whether the corporation has a formal compensation policy D. the individuals marginal income tax rate 7 Which of the following statements is not considered a potential answer to the dividend puzzle (why do corporati A. Paying dividends avoids the double taxation of corporate income B. Demanding that managers pay out dividends restricts their investment activities and forces then to adopt mo C. Paying dividends is a source of investor goodwill D. Dividends are a signal to the capital markets about the health of a corporations activities 8 Which of the following stock dividendswould be tax free to the shareholder? A. a 2 for 1 stock split to all holders of common stock B. a stock dividend where the shareholder could choose between cash and stock C. a stock dividendto all holders of preferred stock D. Both a 2 for 1 stock split to all holders of common stock and a stock dividend to all holders of preferred stock 9 Which of the folllowing individuals is not considered family for purposes of applying the stock attribution rules t A. parents B. grandchildren C. grandparents D. spouse 10 Tammy owns 100 shares in Star Struck Corporation. The other 100 shares are owned by her husband Tommy. W A. A stock redemption that completely terminate Tammys direct interest in a corpora

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