11) Corporation A receives a dividend from Corporation B. Corporation A includes the dividend in...
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Accounting
Corporation A receives a dividend from Corporation B Corporation A includes the dividend in its gross income for tax and financial accounting purposes no booktax difference Corporation A also reported the unrealized appreciation in the stock in its book but not taxable income for the year because it is holding the Corporation B stock as a trading security. If A has accounted for the dividend correctly following the general rule how much of B stock does A own?
A A owns less than percent of the stock of B
B A owns at least but not more than percent of the stock of B
C A owns more than percent of the stock of B
D Cannot be determined.
Corporation A receives a dividend from Corporation B It includes the dividend in gross income for tax purposes but includes a prorata portion of Bs earnings in its financial accounting income. If A has accounted for the dividend correctly using the general rule how much of Bs stock does A own?
A A owns less than percent of the stock of B
B A owns at least but not more than percent of the stock of B
C A owns more than percent of the stock of B
D Cannot be determined.
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