10. When computing the accumulated earnings tax, which of the following is not a reduction to arrive at accumulated taxable income?

A) accumulated earnings credit

B) dividends-paid deduction

C) NOL deduction claimed

D) accrued federal income taxes

11. Which of the following entities is subject to the accumulated earnings tax?

A) Sec. 501 tax-exempt corporation

B) personal holding company

C) C corporation

D) S corporation

12. When using the Bardahl formula, an increase in accounts payable (while holding purchases and operating expenses constant) has which of the following effects on the working capital requirements?

A) decrease

B) increase

C) no effect

D) increase, decrease, or no effect, depending on other factors