Quail Corporation Is a C Corporation with Net Income of $500,000

question 42

True/False

Quail Corporation is a C corporation with net income of $500,000 during 2008.If Quail paid dividends of $70,000 to its shareholders,the corporation must pay tax on $430,000 of net income.Shareholders must report the $70,000 of dividends as income.

---

Definitions:

Bone Density

The amount of bone mineral in bone tissue, reflecting the strength and health of bones.

Heart Attack

A medical emergency characterized by the death of heart muscle due to the loss of blood supply, often caused by a blockage in one or more of the coronary arteries.

Hypertension

A chronic medical condition in which the blood pressure in the arteries is persistently elevated, often leading to serious health problems.

Migraine

A neurological condition characterized by intense, debilitating headaches often accompanied by nausea and sensitivity to light or sound.