Inca Company Reports Current E&P of Negative $100,000 in 20X3

question 41

Multiple Choice

Inca Company reports current E&P of negative $100,000 in 20X3 and accumulated E&P at the beginning of the year of $200,000. Inca distributed $300,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3?

• A) $300,000.
• B) $100,000.
• C) $0.
• D) $200,000.

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Definitions:

Specimen

A sample or individual organism used for scientific study and analysis, representing a part of a larger population.

Homo Erectus

An extinct species of human that lived approximately 2 million to 100,000 years ago, known for its upright walking ability.

Abstract Modifications

Conceptual changes or adjustments in the way ideas or objects are represented, often used to innovate or solve problems in various fields.

Homo Naledi

An extinct species of human discovered in South Africa, known for its combination of primitive and modern traits.