show the steps for q12 please.

Q.1) Which of the following is true? Capital gains are treated separately from ordinary corporate income for tax purposes. The process of pooling mortgages or other types of loans and then selling claims or securities against that pool in a secondary market is called capitalization. Corporations pay taxes on all dividends received from other corporations, no matter their share of ownership. Corporations may pay taxes depending on their percentage of ownership. 012) The tax liability of a corporation with ordinary income of $1,100,000 is 03) Which of the following is true of cash basis accounting? All credit sales will be recorded as revenue. Revenue is recognized when a customer pays cash. Expenses are recognized when they are incurred. Accounts receivable and accounts payable can never be zero. 1