Carlotta,Inc

question 5

Multiple Choice

Carlotta,Inc. ,has $50,000 foreign-source income and $150,000 worldwide income.Its U.S.tax on its worldwide income is $42,000,and it paid foreign taxes of $12,000.What is the corporation's foreign tax credit?

• A)$4,000
• B)$12,000
• C)$14,000
• D)$42,000

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Definitions:

Radioallergosorbent Test

A laboratory test used to detect specific IgE antibodies to allergens, helping to identify allergies.

Immunoglobulins

Proteins in the immune system that function as antibodies, helping to protect the body from pathogens.

Allergies

Immune system reactions to a substance that most people tolerate, characterized by symptoms like itching, sneezing, or rashes.

Intradermal Allergy Testing

A method to identify specific allergens that cause allergic reactions by injecting small amounts of allergens into the skin's surface and observing the reaction.