Carlotta,Inc

question 5

Multiple Choice

Carlotta,Inc. ,has $50,000 foreign-source income and $150,000 worldwide income.Its U.S.tax on its worldwide income is $42,000,and it paid foreign taxes of $12,000.What is the corporation's foreign tax credit?

• A)$4,000
• B)$12,000
• C)$14,000
• D)$42,000

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Definitions:

Directional

Pertaining to or indicating the direction of something, often used in the context of research to suggest a specific trend or relationship.

Research Hypothesis

A statement predicting a significant relationship or difference between two or more variables in a study.

Prediction

The act of making informed guesses about the future values or occurrences based on current data or trends.

Scientific Method

Method of investigation that uses the objective and systematic collection and analysis of empirical data to test theories and hypotheses.