Performance,Inc

question 51

Multiple Choice

Performance,Inc.,a U.S.corporation,owns 100% of Krumb,Ltd.,a foreign corporation.Krumb earns only general limitation income.During the current year,Krumb paid Performance a $200,000 dividend.The § 902 credit associated with this dividend is $30,000.The foreign jurisdiction requires a withholding tax of 30%,so Performance received only $140,000 in cash as a result of the dividend.What is Performance's total U.S.gross income reported as a result of the $140,000 cash dividend received?

• A)$0.
• B)$80,000.
• C)$140,000.
• D)$230,000.
• E)None of thea bove

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Definitions:

Legal Requirements

Mandatory obligations enforced by law that individuals or entities must comply with.

Human Resource Activity

Actions or tasks conducted by the human resources department including hiring, training, benefits administration, and compliance with labor laws.

Employment Equity Program

Initiatives aimed at promoting equal opportunity in the workplace by eliminating discrimination and addressing imbalances in the representation of certain groups.

Employer Commitment

A company's dedication or promise to support its employees' growth, well-being, and professional development.