Identify Which of the Following Statements Is False

question 51

Multiple Choice

Identify which of the following statements is false.

• A)The 70% dividends-received deduction is limited to 70% of the taxable income of the corporation without regard to any NOL deduction,any capital loss carryback,and the dividends-received deduction itself unless the dividends-received deduction produces an NOL.
• B)Members of an affiliated group can claim a 90% dividends-received deduction for dividends received from other group members that is not subject to a taxable income limitation.
• C)A corporate dividends-received deduction is not allowed for dividends received on stock held for 40 days.
• D)All of the above are false.

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Definitions:

Nonperformance

The failure to fulfill a duty or obligation, particularly in terms of meeting the terms of a contract.

Disaffirm The Contract

The legal right of a party to renounce or revoke consent to a contract, typically due to incapacity or misrepresentation.

By Words

Through verbal expression or speech rather than written documents.

Forms Of Gambling

Forms of gambling are various types of betting or wagering activities, including lotteries, sports betting, casino games, and online gambling.