A corporation's "earnings and profits" account is equal to the company's "retained earnings" account on its balance sheet. True/False

Compensation recharacterized by the IRS as a dividend because it was considered "unreasonable" will affect only the income tax liability of the corporation paying the compensation? True/False

Stock dividends are always tax-free to the recipient? True/False

A distribution in partial liquidation of a corporation is always treated as a sale or exchange by an individual shareholder? True/False