Section Multiple Choice Questions (10 marks) Please answer all questions in the Answer section after the question page. 1. A resident company (tax rate is 30%) pays a fully franked dividend of $4.900 to an individual resident shareholder whose marginal tax rate is 45%. Which of the following is false? a. The shareholder will have assessable income of $7,000 b. The shareholder will have imputation credit of $2,100 c. The imputation is refundable d. The shareholder will have assessable income of $4,900 [Answer Here] 2. Company A is a retailer. In the beginning of the income year, it has opening stock of $25,0000 and at the end of the income year, it has closing stock of $45,000. Which of the following is correct? a. Company A has an assessable income of $70,000 b. Company A has a deduction of $70,000 C. Company A has a deduction of $20,000 d. Company A has an assessable income of $20,000 [Answer Here] 3. When claiming car expenses for her business, Rose found she kept no receipts for her car 2 of 12 Words: 1,917 English (United States) 03979