The Notional Amount Attaching to a Dividend That Can Be

question 93

Multiple Choice

The notional amount attaching to a dividend that can be used to offset personal taxes payable on the dividend is called a

• A)classical tax amount.
• B)dividend imputation amount.
• C)double tax credit.
• D)franking credit.

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Definitions:

Cash Receipts

Money received by a business during a given period, including cash sales, received payments on accounts receivable, and other cash inflows.

Cash Payments

Payments made in the form of currency or check to settle a transaction or account.

Ledger

A comprehensive collection of a company's financial accounts where journal entries are summarized and recorded.

Increase Side

Refers to the column in accounting or financial records where increases in the value of an account are recorded.