Jeff owns 50% of an S corporation's stock with a basis in his stock of $50,000 on January 1. In addition, the S corporation owes Jeff $30,000 on January 1. The debt has a basis of $30,000 and is evidenced by a note. The S corporation reports an ordinary loss of $150,000 for the current year. The next year, it reports ordinary income of $20,000. On January 1 of the third year, the note is repaid.
Due to the repayment of the note, Jeff must report what?
What will be an ideal response?
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Which of the following techniques would reduce the possibility that a reader or listener would be misled by a bar chart?
a. Begin the y-axis intervals at the lowest score or value to be reported. b. Vary the intervals of the vertical scale (y-axis). c. Use varying widths for the bars. d. Use a break line to show that intervals have been omitted on the y-axis.
What factors affect a firm’s ability to harness the potential of an HRIS?
What will be an ideal response?
If the net present value of a project is zero, then the profitability index will equal one
Indicate whether the statement is true or false
Why is it more difficult to choose a good life insurance policy than to choose a good auto insurance policy?
A) People don't like thinking about death or dying, and thus cannot be objective in the selection process. B) Most people rarely need life insurance, while auto insurance is required by law. C) Life insurance policies are not standardized, while many non-life policies are. D) Both B and C are correct.