Train Corporation Is an S Corporation That Is Owned Equally

question 11

Multiple Choice

Train Corporation is an S corporation that is owned equally by Carlos and Diane at the beginning of the year. On April 21 (the 111th day of Train's tax year) of the current year, Carlos sells all of his Train Corporation stock to Andre. How many days will be used when computing Carlos's share of S corporation income for this year (a non-leap year) , assuming that a special income allocation election is not made?

• A)110
• B)111
• C)254
• D)255

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Definitions:

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The set of rules, principles, and processes that govern the structure of sentences in a given language, specifically the order and arrangement of words.

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The smallest grammatical units in a language that convey meaning.

Phonemes

The most minimal sound units in a language capable of distinguishing words from each other.

Pragmatics

The branch of linguistics that studies how context influences the interpretation of meaning in communication.