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:

Selective Perception

A psychological phenomenon in which individuals tend to pay attention to information that aligns with their pre-existing beliefs and ignore contradictory information.

Racialization

The process of attributing racial identities to a relationship, social practice, or group that did not identify itself as such, shaping social structures and perceptions.

Social Construction

The theory that many aspects of reality, including knowledge, belief systems, and social norms, are created through cultural and social practices and are not inherent.

Racial Categories

Classifications of humans into groups based on physical traits, ancestry, genetics, or social relations, often influencing identity and social positions.