Question
72. What is double taxation? a. It is when two separate tax authorities tax the same corporation. b. It is a situation that only affects
72. What is double taxation?
| a. | It is when two separate tax authorities tax the same corporation. |
| b. | It is a situation that only affects sole proprietorships. |
| c. | It occurs when the business owner pays himself or herself a salary. |
| d. | It occurs when earnings are taxed once at the corporate level and then taxed a second time as personal income. |
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
