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) 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.
C) Income from personal service contracts are not included in personal holding company income.
D) All of the above are false.