ABC Company
Sales- 375,525.00
Expenses (excluding depreciation)- 132,000.00
Depreciation expense- 75,369.00
Increase in Accounts Receivable- 69,172.00
1) What would be the net cash flow from above activities?
a- 174,353.00
b- 168,156.00
c- 161,959.00
d- 375,525.00
2) Dividend income received by a corporation
a- is 100% taxable as ordinary income
b- is taxed only up to 30% of the dividend income
c- is taxed only up to 70% of the dividend income
d- is not taxable at all
3) Which of the following as a business entity pays federal income tax?
a- Corporation
b- Partnership
c- Sole Proprietorship
d- All of the above