D Question 8 A corporation is a legal entity created and recognized by federal law. O True False
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- Mulitple choice question What is the federal counterpart of the state and local government "encumbrance"? Select one: a. Obligation b. Outlay c. Allotment d. ApportionmentDe jure corporation is a corporation existing in fact and in law.Ability-to-pay principle supports that tax should be * A. Proportionate in character B. Levied for public purpose C. Levied by the lawmaking body of the state D. Levied on persons and properties within the limits
- A. What is BIR Form 1701 and its importance? What are considered as Taxable Income in the BIR Form 1701? What are the deductions to the Taxable Income made in the BIR form 1701? NOTE: Include in the answer the effects of CREATE LAW, cite as many as you can on the impact of this law.Chapter 11 - Question 3: (a) Contrast the federal income taxation of a corporation with that of a sole proprietorship and a partnership. (b) Which of the three types of organizations must file a federal income tax return?Read Section 13611. What are the 4 requirements?2. What Form is used to elect S Corporation?
- Question 18 of 30. Distributable net income (excluding tax-exempt int O Serves as the upper limit on the amount of the Inco O Will always equal fiduciary accounting income. O Usually includes capital gains and losses. Is calculated on Schedule A (Form 1041).5 What must be included in the name of all corporations - as required by all states?93. The corporate charter is known as A. Articles of Partnership O B. Articles of Corporation C. Articles of Incorporation D. By Law and Constitution
