Dividends-Received Deductions Generally Are Not Allowed for Dividends from Foreign

question 60

True/False

Dividends-received deductions generally are not allowed for dividends from foreign corporations.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in a checking account's ledger but have not yet been cleared or deducted from the bank's balance.

NSF Check

A check that cannot be processed due to insufficient funds in the account on which it was drawn.

Bank Reconciliation

The process of matching the balances in an organization's accounting records for a cash account to the corresponding information on a bank statement.

Outstanding Checks

Checks that have been written and recorded in the paying company's books but have not yet been cashed by the recipient.