. S1: Minimum corporate income tax (MCIT) is imposable on all domestic and resident foreign corporations regardless of whether they are subject to regular or preferential tax. S2: If a newly-registered domestic corporation commenced business operations in 2020, MCIT is imposable in 2024. Group of answer choices a. Only S1 is true b. Only S2 is true d. Both are false c. Both are true
. S1: Minimum corporate income tax (MCIT) is imposable on all domestic and resident foreign corporations regardless of whether they are subject to regular or preferential tax. S2: If a newly-registered domestic corporation commenced business operations in 2020, MCIT is imposable in 2024. Group of answer choices a. Only S1 is true b. Only S2 is true d. Both are false c. Both are true
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6. S1: Minimum corporate income tax (MCIT) is imposable on all domestic and resident foreign corporations regardless of whether they are subject to regular or preferential tax.
S2: If a newly-registered domestic corporation commenced business operations in 2020, MCIT is imposable in 2024.
Group of answer choices
a. Only S1 is true
b. Only S2 is true
d. Both are false
c. Both are true
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