Identify Which of the Following Statements Is True

Multiple Choice

Identify which of the following statements is true.

A) The personal holding company taxes that are paid by a corporation can be used as a credit against its regular tax amount.
B) Income from personal service contracts are not included in personal holding company income.
C) Whether a corporation is subject to the personal holding company tax is determined by using two objective tests, while the determination of whether a corporation is subject to the accumulated earnings tax is determined subjectively.
D) All of the above are false.