If an S Corporation's Beginning Balance in OAA Is Zero

question 13

Multiple Choice

If an S corporation's beginning balance in OAA is zero, and the following transactions occur, what is the ending OAA balance? ​

• A) $1,300
• B) $7,600
• C) $23,300
• D) $27,500
• E) None of the above

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Definitions:

Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, self-discipline, and the desire to do a task well.

Agreeableness

A personality trait characterized by compassion, cooperation, and a desire for social harmony.

Neuroticism

A personality trait characterized by a tendency to experience negative emotions such as anxiety, anger, or depression more frequently and intensely than others.

Consistency

The characteristic of being uniform, stable, and lacking in contradiction over time or across situations.