At a Time When Blackbird Corporation Had E & P

question 173

True/False

At a time when Blackbird Corporation had E & P of $700,000 and 1,000 shares of stock outstanding, the corporation distributed $300,000 to redeem 400 shares of its stock. The transaction qualified as a disproportionate redemption for the shareholder. Blackbird's E & P is reduced by $300,000 as a result of the distribution.

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Definitions:

Opens Eyes

Describes the voluntary or reflex action of eyelid movement, resulting in the eyes being exposed to the environment or stimuli.

Oriented

Being aware of one's own self, location, and the current time; a state of mental alertness and understanding of one's environment.

Focal Neurologic Signs

Specific and localized neurological deficits that indicate dysfunction in a particular area of the brain or nervous system.