_____ 14. A corporation must have positive earnings and profits in both its current earnings and profits account and its accumulated earnings and profits account to make a taxable dividend distribution.

Question

Quizplus · Accepted Answer

A corporation can make a taxable dividend distribution if it has positive earnings and profits in either its current earnings and profits account or its accumulated earnings and profits account, not necessarily both.

_____ 14 a Corporation Must Have Positive Earnings and Profits in in Both