Question: Which statement is false? Which statement is false? Businesses operating in China must follow the Chinese Accounting Standards. A disadvantage of operating as a U

Which statement is false?
Which statement is false?
Businesses operating in China must follow the Chinese Accounting Standards.
A disadvantage of operating as a U.S. branch of a U.S. company is that the current profits are subject to immediate U.S. taxation.
The foreign tax credit is an annual election.
If a foreign tax credit is not used, a deduction is not available.
All are true.

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