Which of the following statements is false? A. A controlled group...
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Accounting
Which of the following statements is false?
A
A controlled group of corporations must file a consolidated return.
B
In addition to regular income tax, a corporation may be liable for accumulated earnings tax if it accumulates profits instead of distributing them to shareholders.
C
In addition to regular income tax, a corporation may be liable for personal holding company tax if a significant portion of its income is dividends, interest, rents, and royalties.
D
Generally, a personal service corporation is one that furnishes personal services performed by employeeowners.
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