Dragon Corporation Reports a Distribution on Its Return from the Third

question 49

Multiple Choice

Dragon Corporation reports a distribution on its return from the third previous year as a stock redemption producing a capital gain.When the return is audited during the current year,the distribution of the third previous year is characterized by the IRS as a dividend.This change causes Dragon Corporation to be classified as a personal holding company for the third previous year.Which of the following statements is correct?

• A)Dragon Corporation will owe no interest and/or underpayment penalty if the PHC tax is avoided by a deficiency dividend.
• B)Dragon Corporation will owe interest and/or underpayment penalty even if the PHC tax is avoided by a deficiency dividend.
• C)A deficiency dividend is not permitted to be paid by Dragon.
• D)A dividend must be paid within 120 days of establishing the PHC tax liability and a claim for a dividends-paid deduction must be filed within 90 days of the determination date.

Explain the feedback mechanisms involved in endocrine system regulation.

Understand how hormones contribute to metabolic regulation and energy balance.

Recognize the relationship between the endocrine system and other physiological systems for coordinated control.

Explain the clinical implications of hormone deficiencies and excesses.

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Definitions:

Unique

Being the only one of its kind; unlike anything else.

Adaptation

The evolutionary process by which organisms become better suited to their environment, leading to changes in traits over generations.

Hollow Bones

Bones that are light yet strong, characteristic of birds, aiding in flight by reducing overall weight.

Bird

Endothermic reptile that has feathers and wings, is often adapted for flight, and lays hard-shelled eggs.