Earnings accumulated for purposes of making loans to suppliers are considered to be for the reasonable needs of the business. True O False QUESTION 32 The Internal Revenue Service may impose both the Accumulated Earnings Tax (Section 531) and the Personal Holding Company Tax (Section 541) on a corporation in the same tax year. O False True QUESTION 33 Earnings accumulated for Self-Insurance purposes are considered to be for the Reasonable Needs of the business for purposes of the Accumulated Earings Tax (Section 531). O True False