Identify Which of the Following Statements Is False

question 1

Multiple Choice

Identify which of the following statements is false.

• A)The 80% dividends-received deduction can be claimed when computing a corporation's undistributed personal holding company income (UPHCI).
• B)Rental expenses in excess of rental income are added back to taxable income to arrive at personal holding company income (PHCI).
• C)Wind Corporation is a personal holding company. Its taxable income for this year is $100,000. The corporation's charitable contributions are $5,000 greater than its income tax charitable contribution deduction limitation. Wind's UPHCI is $95,000, assuming no other adjustments must be made.
• D)The PHC tax is assessed at 20%.

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Definitions:

Parent Organization

The primary or controlling company in a corporate structure, which may own subsidiary companies or divisions.

Project Resources

Resources in project management include people, money, equipment, and materials required to complete a project successfully.

Logistics

The coordination and management of moving goods and services from one location to another, including transportation, inventory, warehousing, and delivery.

RFP

Request For Proposal, a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset.