Which of the Following Is NOT a Tax Credit

question 44

Multiple Choice

Which of the following is NOT a tax credit?

• A) Adoption tax credit
• B) Domestic tax credit
• C) Earned income credit
• D) Foreign tax credit
• E) Retirement tax credit

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, thus having a claim on part of its assets and earnings.

Legally Liable

Being subject to legal responsibility or obligation, particularly in the context of lawsuits or compensations.

Sole Proprietorship

A business ownership structure where a single individual owns, operates, and is responsible for all aspects of the business.

Personally Liable

The legal responsibility of an individual to compensate for debt or obligation from personal assets, not through corporate or shared assets.