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

---

Definitions:

Expressing Emotions

The process of conveying one's feelings to others through words, actions, or artistic expressions.

Traits

Characteristic patterns of thought, emotion, and behavior that are relatively stable over time and across situations, distinguishing one individual from another.

Effective Leaders

Individuals who possess the skills, attributes, and behaviors necessary to guide teams or organizations towards achieving their goals.

Organizational Effectiveness

The degree to which an organization achieves its goals and objectives efficiently and effectively.