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  3. 24) national corporation is a large corporation se

24) National Corporation is a large corporation set up to give its shareholders a return...

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Question

Accounting

24)

National Corporation is a large corporation set up to give its shareholders a return on their investments. Any person can buy shares in National. National is which of the following types of corporations?

Multiple Choice

  • Publicly held and for profit.

  • Publicly held and not for profit.

  • Publicly held and professional.

  • Privately held and professional.

  • For profit and professional.

25)

To comply with the commerce clause, a state tax that is applied to a foreign corporation must do all of the following, except:

Multiple Choice

  • be fairly apportioned.

  • not discriminate against interstate commerce.

  • be fairly related to the services provided by the state.

  • treat intrastate transactions more favorably than interstate transactions.

  • apply to an activity with substantial connection with the taxing state.

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