Find all School-related info fast with the new School-Specific MBA Forum

It is currently 19 Aug 2014, 21:30

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

The 38 corporations that filed United States income tax

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
CEO
CEO
avatar
Joined: 15 Aug 2003
Posts: 3470
Followers: 59

Kudos [?]: 665 [0], given: 781

The 38 corporations that filed United States income tax [#permalink] New post 01 Oct 2003, 16:58
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
2. The 38 corporations that filed United States income tax returns
showing a net income of more than $100 million accounted for 53
percent of the total taxable income from foriegn sources
reported on all tax returns. Sixty percent of the total taxable
income from foriegn sources came from the 200 returns reporting
income from 10 or more countries.

If the statements above are true, which of the following must
also be true?

A. Most of the total taxable income earned by corporations with net
income above $100 million was earned from foriegn sources.
B. Wealthy individuals with large personal incomes reported 47
percent of the total taxable income from foriegn sources.
C. Income from foreign sources amounted to between 53 and 60
percent of all reported taxable income.
D. Some of the corporations with net income above $100 million
reported income from 10 or more countries.
E. Most of the taxable returns showing income from 10 or more
countries reported net income of more than $100 million.
Senior Manager
Senior Manager
avatar
Joined: 21 Aug 2003
Posts: 258
Location: Bangalore
Followers: 1

Kudos [?]: 4 [0], given: 0

GMAT Tests User
 [#permalink] New post 03 Oct 2003, 07:33
will go with D.
If u pick simple answers than its easier to look at the problem
Total taxable income = 100$
Contribution from more 100mil$ of income = 53$ ------a
Contribution from 10 or more countries = 63$ ----------b
Its clear (63 + 53) < 100
Thus there is an overlap between a & b, which is stated in D.
Praet kindly let me know of correct answer, so that i am clear whether this approach (recently discovered) is correct.
Intern
Intern
avatar
Joined: 17 Sep 2003
Posts: 31
Location: Mumbai,India
Followers: 0

Kudos [?]: 0 [0], given: 0

 [#permalink] New post 04 Oct 2003, 03:52
TOUGH ONE!! dont know how to handle this :?
Senior Manager
Senior Manager
avatar
Joined: 21 Aug 2003
Posts: 258
Location: Bangalore
Followers: 1

Kudos [?]: 4 [0], given: 0

GMAT Tests User
 [#permalink] New post 05 Oct 2003, 20:08
praet whats the official answer..?
CEO
CEO
avatar
Joined: 15 Aug 2003
Posts: 3470
Followers: 59

Kudos [?]: 665 [0], given: 781

 [#permalink] New post 06 Oct 2003, 13:30
Vicky wrote:
praet whats the official answer..?


Official answer is E.

But a very brilliant friend of mine pointed out that D should be the answer.

Vicks, i think 63 should be 60..was that a typo?

Thanks

praetorian
Senior Manager
Senior Manager
User avatar
Joined: 04 Nov 2006
Posts: 267
Location: California
Followers: 1

Kudos [?]: 17 [0], given: 0

GMAT Tests User
 [#permalink] New post 22 Dec 2006, 02:42
I chose D... but OA is E..

how can one say most of the 10-12..... have 100
million..

D makes more sense..
Senior Manager
Senior Manager
avatar
Joined: 17 Aug 2005
Posts: 394
Location: Boston, MA
Followers: 1

Kudos [?]: 6 [0], given: 0

GMAT Tests User
 [#permalink] New post 22 Dec 2006, 09:26
My answer is D too.

E cant be right. Most? How much is most? We know that there is overlap between the income from 10 or more countries and income over $100mm

This is a tough question. I wonder what the source is.
Senior Manager
Senior Manager
User avatar
Joined: 24 Nov 2006
Posts: 352
Followers: 1

Kudos [?]: 11 [0], given: 0

GMAT Tests User
 [#permalink] New post 01 Jan 2007, 15:27
I also support D. E could or could not be true.
  [#permalink] 01 Jan 2007, 15:27
    Similar topics Author Replies Last post
Similar
Topics:
Experts publish their posts in the topic How to file Income Tax Return ? MarksBradshaw 3 14 Feb 2012, 05:47
1 Experts publish their posts in the topic The 38 corporations that filed United States income tax Economist 14 22 Sep 2009, 01:21
When Americans filed their tax returns this year, the United bepositive 8 21 May 2008, 07:26
The 38 corporations that filed United States income tax biggamejames 4 11 Jul 2006, 17:31
The 38 corporations that filed United States income tax Dilshod 17 25 Jul 2005, 01:41
Display posts from previous: Sort by

The 38 corporations that filed United States income tax

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.