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Author Question: Which of the following sections of the federal bankruptcy laws deals with consumer debt adjustment ... (Read 86 times)

anjilletteb

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on: Jun 24, 2018
Which of the following sections of the federal bankruptcy laws deals with consumer debt adjustment plans?
 A) Chapter 7
 B) Chapter 11
 C) Chapter 13
 D) CRO provisions

Question 2

Explain the concept of double taxation in a corporate setting.


Christopher

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Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

The corporation's profits are taxed as income at the corporate level for the first tax event. If the company pays dividends to its shareholders, the shareholders have to recognize the dividends as ordinary income on their personal income tax returns; this results in the second taxation of the same money.


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anjilletteb

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Reply #2 on: Jun 24, 2018
Correct answers!


Christopher

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Reply #3 on: Jun 24, 2018
Great! Please up vote :D


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