If a Corporation Receives Dividends from an 80% or More

question 40

True/False

If a corporation receives dividends from an 80% or more owned affiliated corporation,the dividends-received deduction is 100%.

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Definitions:

Useful Life Estimates

Projections or assessments of the duration during which an asset is expected to be economically viable and productive for its intended purpose.

Revaluation Surplus

The increase in an asset's carrying amount as a result of a revaluation, recognized in equity.

Financial Period

A specified duration of time used for financial reporting and accounting purposes, typically one year or one quarter.

Revaluation Surplus

Revaluation surplus is an accounting term that refers to the increase in value of an asset, recognized after its revaluation exceeds its previously recorded value.