Which of the Following Companies Is Taxed at a Flat

question 47

Multiple Choice

Which of the following companies is taxed at a flat rate of 21 percent?

• A)An auto parts manufacturing corporation with taxable income of $73,000.
• B)A single-owner corporation involved in the retail sale of apparel.
• C)A family-owned shoe store with earnings of $224,000 in 2018.
• D)All of the above are taxed at a flat rate of 21 percent.

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Definitions:

Abductor Pollicis Brevis

A muscle in the hand that abducts the thumb, helping in movements like gripping or holding objects.

Lumbricals

Muscles in the hand and foot that flex the metacarpophalangeal joints and extend the interphalangeal joints.

Posterior Side

The back or rear part of the body or a structure, opposite to the anterior or front.

Adductor Magnus

A large muscle in the thigh that functions to adduct and medially rotate the thigh, playing a key role in stabilizing walking and standing.