Mason Owns 45% of an S Corporation That Reported Net

question 49

Multiple Choice

Mason owns 45% of an S corporation that reported net income of $105,000 for the year. During the year, $20,000 was distributed to Mason from the corporation. How much should Mason include in his taxable income for the year?

• A) $20,000
• B) $47,250
• C) $56,250
• D) $67,250

Apply knowledge of effective goal setting in personal development contexts.

Grasp the concept of personality trait stability and factors affecting behavioral prediction.

Comprehend the notion of locus of control and its impact on individuals.

Distinguish between various personality theories and concepts such as self-efficacy and behavioral consistencies.

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Definitions:

Therapy Technique

A specific method or approach used in therapy to treat psychological problems and disorders.

Transference

A phenomenon in psychotherapy where patients project their feelings about important figures in their life onto the therapist.

Psychoanalysts

Therapists who use techniques grounded in Freudian theory to explore unconscious drives and conflicts in patients.

Unconditional Positive Regard

A practice in psychology that involves showing complete support and acceptance to a person regardless of their actions or feelings.