(7) What is a benefit of a general partnership over a corporation? a. Limited liability b. A separate and distinct taxpayer from the individual owner c. Avoidance of double taxation d. All of the above (8) Company A has declared a dividend of $100. Company A has $50 of accumulated E&P and $150 of current E&P. How will the E&P be impacted because of the distribution? a. Accumulated E&P will be reduced to $o and Current E&P will be reduced to $100 b. Accumulated E&P will stay the same and Current E&P will be reduced to $50 c. Accumulated E&P will remain the same and Current E&P will stay the same because Company A can pay a diviend without impacting E&P because their income was greater than $100 in the current year d. Accumulated E&P will be reduced to $25 and Current E&P will be reduced to $75