If Paid, Dividends Come from Any Profits Remaining After the Firm

question 239

True/False

If paid, dividends come from any profits remaining after the firm has paid taxes. The company cannot deduct dividends as an expense of doing business.

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Definitions:

Paralegals

Legal assistants who perform various tasks to support lawyers, such as conducting legal research and drafting documents.

Contingency-Fee Agreements

Legal service contracts where the attorney's payment depends on the outcome of the case, typically receiving a percentage of the settlement or judgment.

Divorce Cases

Legal proceedings that terminate a marriage agreement between two individuals and address related issues such as asset division and custody.

Probate Cases

Legal proceedings that involve the administration of a deceased person's estate, including the validation of wills, distribution of assets, and resolution of any disputes.