Chapter 24

Question 1

Describe the classical tax system

Answer 1

1. Company profits
2. Twice
3. Company
4. Investor

Question 2

Describe the split rate tax system

Answer 2

1. Similar
2. Different
3. Distributed
4. Retained

Question 3

Describe the imputation

Answer 3

1. Deduct
2. Investors
3. Government
4. Set off