Barrie owns 100% of a Subchapter S corporation and her basis in the stock is $200,000. In the current year, the corporation reports an ordinary loss of $250,000 and interest income of $20,000. How much of the loss can Barrie claim in the current year?
A. $250,000.
B. $220,000.
C. $200,000.
D. The amount cannot be determined with the information provided.
Answer: B
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________ refers to the right of a partner to be reimbursed for expenditures incurred on behalf of the partnership
A) Indemnification B) Proliferation C) Lucubration D) Fenestration
Which sentence is a complex sentence?
A) The committee interviewed four applicants for the position and made its recommendation to the personnel department. B) Many individuals use Facebook to stay connected with friends and family, but some prefer texting or tweeting. C) Although many people reconcile their bank statements online, some individuals still prefer to use hard copies.
Answer the following statement(s) true (T) or false (F)
1. Job evaluation systems determine the absolute worth of a job and the wage adjustments that are necessary. 2. The social security system is funded through equal contributions by the employer and the employee. 3. A 1985 Supreme Court decision permitted interstate banking, but interstate banking has been slow to develop. 4. Bank of America, Bank One, and Wachovia conduct superregional interstate banking.
Xi Chung is the owner of a popular bar in a college town and typically advertises in the college newspaper about upcoming drink specials or special events. Xi was an early adopter of e-marketing and worked with a college intern to create a webpage for the business. At the time, Xi believed he could simply modify the newspaper advertisements and Yellow Page listings and publish those to the webpage to attract customers and inform them of events. However, his early efforts with e-marketing were not successful. Which of the following could explain why his website failed?
A. Xi treated digital marketing like a traditional marketing channel. B. Xi didn't spend enough money on digital marketing. C. Xi failed to utilize social networks such as Facebook. D. Xi didn't hire an advertising agency.