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  3. which of the following is true regarding earnings

Which of the following is true regarding earnings and profits of an S corporation: a.there are...

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Accounting

Which of the following is true regarding earnings and profits of an S corporation: a.there are no penalties for an S corporation having earnings and profits b.there can be severe penalties for an S corporation having even one or only a few dollars of earnings and profits c.earnings and profits cannot result in losing a corporation’s S election d.there is no way to eliminate earnings and profits of an S corporation 

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