Ask Question
BusinessBusiness
16 June, 00:06

The income and expenses of a corporation for federal income tax purposes are referred to as what type of income? a. nontaxableb. accountingc. tax

+5
Answers (1)
  1. 16 June, 00:27
    0
    The correct answer is letter "C": tax.

    Explanation:

    The Federal Income Tax is collected by the U. S. Internal Revenue Service (IRS) based on the annual earnings of individuals, corporations and all legal entities. It is considered to be the largest source of revenue for the government. In general, they are called taxes.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The income and expenses of a corporation for federal income tax purposes are referred to as what type of income? a. nontaxableb. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
With brick-and-mortar toy stores closing, board game manufacturers expect to have trouble finding as many consumers interested in their games. How will this affect the market for board games
Answers (1)
Carlysle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $1.60 at the end of each year. If investors require an 8% return on the preferred stock, what is the price of the firm's perpetual preferred stock
Answers (1)
Securities and investments and banking services are careers associated with which of the following career clusters
Answers (1)
The manager at East Coast Manufacturing organizes costs to prepare the Costs of Quality report. The manger compiled the following dа
Answers (1)
You want to be a millionaire when you retire in 40 years. you can earn a 12.5 percent annual return How much do you have to save each month if you can earn an annual return of 9.7 percent
Answers (1)
New Questions in Business
Granting a foreign company the right to manufacture your product your product or to use your firm's trademark in return for a fee is called:
Answers (1)
The paranting style which takes the concerns of all family members into account when making decisions is
Answers (1)
At the beginning of the year, Novak had an inventory of $550000. During the year, the company purchased goods costing $2340000.
Answers (1)
In presidential elections, voters often find that they do not agree with any single candidate in all issues that matter to them this is known as a. rent seekingbehaviorb. lack of accountabilityc. principal agent problemd.
Answers (1)
True or False: Being confronted with danger is a common reason why drivers get angry, hostile, and aggressive.
Answers (1)
Home » Business » The income and expenses of a corporation for federal income tax purposes are referred to as what type of income? a. nontaxableb. accountingc. tax
Sign Up Forgot Password?