For Ownership Interest of at Least 20% but Less Than

question 8

Multiple Choice

For ownership interest of at least 20% but less than 80%, the parent may exclude how much of the dividends received from its reported income when filing separately?

• A)​100%
• B)​80%
• C)​70%
• D)20%​

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Definitions:

Barter System

An exchange system in which goods or services are directly exchanged for other goods or services without the use of money.

Goods

Physical items that are produced for sale on the market, which can satisfy human wants or needs, such as food, clothes, and cars.

Trade

The exchange of goods, services, or both between two or more parties, either within the same country or across international borders.

Different Goods

Variety of products or items that satisfy different needs and wants or provide various forms of utility to consumers.