1. Which of the following statements is true about U.S. taxation of foreign subsidiaries? A) The U.S. does not tax income generated on subsidiaries incorporated in foreign countries. B) U.S. multinationals pay tax on their worldwide income as soon as it is earned. C) Transfer pricing will eliminate taxes by the U.S. government on multinational corporations. D) U.S. tax on foreign operations does not have to be paid until the income is brought back to the United States