Built-In Gains Recognized 15 Years After a C Corporation Elects

question 80

True/False

Built-in gains recognized 15 years after a C corporation elects to become an S corporation are subject to the built-in gains tax.

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Definitions:

CMA (AAMA) Certification Exam

The certification examination for medical assistants administrated by the American Association of Medical Assistants to verify their competency in various health care tasks.

Legal and Ethical Concepts

Fundamental principles and values in law and morality that guide behaviors and decision-making in society and professions.

Scope of Practice

The procedures, actions, and processes that a healthcare practitioner is permitted to undertake in keeping with the terms of their professional license.

Clinical Skill

The ability to perform actions or tasks effectively in a healthcare setting, which requires specific knowledge, expertise, and technique.