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A Corporation Can Be Subject to Both the Accumulated Earnings

question 39

True/False

A corporation can be subject to both the accumulated earnings tax and the personal holding company tax in the same year.


Definitions:

Cell

The basic structural, functional, and biological unit of all living organisms, or a device that converts chemical energy into electrical energy in a battery.

Specific Gravity

A dimensionless number that describes the ratio of the density of a substance to the density of a reference substance, typically water at 4 °C.

Acid

A chemical substance that donates protons or accepts electrons and has a sour taste.

Water

A ubiquitous chemical substance with the formula H2O, essential for all known forms of life and used as a solvent among its numerous roles.

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