In an S corporation:
A. gains or losses of the business are separate from the personal income of the shareholder.
B. shareholders retain unlimited liability.
C. most fringe benefits for shareholders can be deducted.
D. only one class of stock is permitted.
Answer: D
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When a company with a complex capital structure has a loss from continuing operations and potentially dilutive securities, the calculation of earning per share (EPS) results in
a. simple EPS (no potentially dilutive securities are included in the calculation). b. no EPS being reported. c. EPS being reported, using the same calculation of dilutive EPS as would be used if net income were positive. d. EPS being reported, using securities in the calculation of dilutive EPS that would be anti-dilutive if income were positive.
The three-tier application model is also referred to as a client/server application.
Answer the following statement true (T) or false (F)
Hannah has extensive contacts in the real estate business and brings together buyers and sellers. Although she assumes no risks, she can offer specialized knowledge about real estate. Hannah is a
A. commission merchant. B. selling agent. C. broker. D. specialty salesperson. E. sales branch agent.