A corporation is allowed to deduct all of its ordinary and necessary business expenses.Which of the following Concepts is least helpful in determining this treatment？（)

A.preferred

B.blue-chip

C.common

D.all

A.Community

B.Corporation

C.Partnership

D.Sole proprietorship

owners if the entity is()

A. a corporation

B. a proprietorship

C. a partnership

D. all of the above

The word () means "the joining together of two corporations in which one corporation transfers all of its assets to the other, which continues to exist. In effect one corporation "swallows" the other, but the shareholders of the swallowed company receive shares of the surviving corporation".

A、merger

B、director

C、cquisition

D、takeover

(ii) Calculate the corporation tax (CT) payable by Tay Limited for the year ended 31 March 2006, taking

advantage of all available reliefs. (3 marks)

term. The invoice value is ￡ 12 000. The foreign trade corporation covered against All Risks and War risks for the invoice value plus 10% , and the premium rate is 0. 6% and 0.4% respectively. Please calculate the premium that should be paid.

(c) Calculate the expected corporation tax liability of Dovedale Ltd for the year ending 31 March 2007 on the

assumption that all available reliefs are claimed by Dovedale Ltd but that Hira Ltd will not claim any capital

allowances in that year. (4 marks)

(b) (i) Compute the corporation tax liability of Speak Write Ltd for its first trading period on the assumption

that the IR 35 legislation applies to all of its income. (2 marks)

A、the amount of capital the state of incorporation allows the company to accumulate over its existence.

B、the par value of all capital stock issued.

C、the amount of capital the federal government allows a corporation to generate.

D、the total capital raised by a corporation within the limits set by the Securities and Exchange Commission.