From a tax perspective, which entity choice is preferred when a liquidating distribution occurs and the entity has assets that have declined in value?
A. LLC.
B. Partnership.
C. S corporation and LLC.
D. S corporation.
E. Partnership and S corporation.
Answer: D
You might also like to view...
List two disadvantages of using a traditional cost accounting system
Answer the following statements true (T) or false (F)
1. A note payable can be classified either as a long-term liability or a short-term liability, depending on the discretion of the accountant. 2. An amortization schedule details each loan payment's allocation between principal as well as interest and the beginning and ending balances of the loan. 3. A mortgage payable is a long-term debt that is backed with a security interest in specific property. 4. The difference between mortgages payable and notes payable is that notes payable are always secured by specific assets. 5. Installment payments for mortgages generally contain both an amount for principal repayment and an amount for interest.
Common-size statements are useful in assessing the changes in the composition of statements over time
Indicate whether the statement is true or false
The basic objective in cash management , other things constant, is to keep the investment in cash: