Oscar Buys a 10% Interest in Britanny Corporation Paying $92,000

question 75

Multiple Choice

Oscar buys a 10% interest in Britanny Corporation paying $92,000 cash on January 1,2012.During 2012,Britanny Corporation reports a loss of $30,000 and pays cash dividends to shareholders of $10,000.For 2013,Britanny Corporation has a loss of $60,000 and pays cash dividends of $20,000.If Britanny Company is organized as an S Corporation,Oscar's basis in the Britanny Corporation stock at the end of 2013 is:

• A)$ 80,000
• B)$ 86,000
• C)$ 92,000
• D)$ 98,000
• E)$ 104,000

---

Definitions:

HR Supply

The current availability of employees, both within and outside the organization, who possess the skills and qualifications to meet its requirements.

Demand Requirements

The specific needs or conditions that must be met for a particular goal, service, or product to be successful in the marketplace.

In-House Skills

Competencies and expertise that exist within an organization's current workforce.

Skills Inventories

Comprehensive databases that detail the qualifications, expertise, and skills of employees within an organization, used for planning and assignment purposes.