Question: In making the adjustments necessary to arrive at accumulated taxable

In making the “adjustments” necessary to arrive at accumulated taxable income, which of the following items should be added (+), should be subtracted (–), or have no effect (NE) on taxable income?
a. Corporate income tax incurred and paid.
b. A nontaxable stock dividend distributed by the corporation to its shareholders.
c. Charitable contributions paid in the amount of 10% of taxable income.
d. The dividends received deduction.
e. Deduction of an NOL carried over from a prior year.

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  • CreatedSeptember 09, 2015
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