Which of the following items, if any, decreases an S corporation’s AAA?
A. Section 1231 loss.
B. Expenses related to tax-exempt income.
C. Depletion in excess of basis.
D. Distribution from earnings and profits.
Answer: A
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In a functional résumé, points of primary interest to employers-transferable skills-appear in major headings
Indicate whether the statement is true or false
Which primary activity in the value chain is concerned with the design of products and production processes?
A. Research and development B. Marketing and sales C. Materials management D. Production E. Company infrastructure
Xavier owns a duplex that he leases to Yves and Zeb. Xavier may sell
A. the duplex at any time. B. the duplex, but only after the lease expires and the tenants move out. C. the duplex, but only with the tenants' permission. D. the lease, but not the duplex.
Futures contracts may help firms hedge against exchange rate risk by
A) enabling the hedger to offset foreign currency losses by profiting from the sale of the futures contract. B) giving the owner of the contract the right to swap one currency for another at a later date. C) giving the holder of the contract the ability to purchase foreign currencies at a predetermined exchange rate at a future date. D) providing riskless arbitrage opportunities. E) paying the holder of the contract in the event of a loss, much like an insurance policy.