The Income Earned by a Foreign Branch Operation of a U.S

question 93

True/False

The income earned by a foreign branch operation of a U.S. corporation is taxable by the United States only when repatriated.

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Definitions:

Accounts Payable

Liabilities or amounts owed by a company to its creditors/vendors for goods and services received but not yet paid for.

Buildings

Structures such as houses, offices, and factories that are constructed as fixed assets for use in operations or investment.

Land

A type of real estate that refers to the earth's surface extending downward to the center of the earth and upward infinitely into space, including all natural resources.

Equipment

Tangible property used in operations, such as machinery and office equipment, which is not intended for sale.