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QUESTION 11 The repayment of the face amount of a debt instrument is nontaxable to the holder of the debt. True False QUESTION 12 Dividend

QUESTION 11 The repayment of the face amount of a debt instrument is nontaxable to the holder of the debt. True False QUESTION 12 Dividend distributions by a corporation to its shareholders are deductible to the corporation to the extent of its earnings and profits. True False

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