AAA Corporation Distributes an Automobile to Alexandria,a Shareholder,in Lieu of a Cash

question 83

True/False

AAA Corporation distributes an automobile to Alexandria,a shareholder,in lieu of a cash dividend.Alexandria must report the value of the automobile as dividend income.

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Definitions:

Bank Teller

A bank employee who handles withdrawals, deposits, and other transactions directly with the customers.

False Pretense

The illegal obtaining of another’s property by making a materially false representation of an existing fact, with knowledge of the falsity of the representation and with the intent to defraud.

Magazine Subscriptions

Agreements to receive or deliver a magazine periodically, typically in exchange for a subscription fee.

False Token

A counterfeit or fake symbol, object, or piece of information used to deceive or commit fraud.