Blue Corporation Has a Deficit in Accumulated E & P

question 160

Multiple Choice

Blue Corporation has a deficit in accumulated E & P of $300,000 and has current E & P of $225,000. On July 1, Blue distributes $250,000 to its sole shareholder, Sam, who has a basis in his stock of $52,500. As a result of the distribution, Sam has:

• A) Dividend income of $225,000 and reduces his stock basis to $27,500.
• B) Dividend income of $52,500 and reduces his stock basis to zero.
• C) Dividend income of $225,000 and no adjustment to stock basis.
• D) No dividend income, reduces his stock basis to zero, and has a capital gain of $250,000.
• E) None of the above.

Identify the distinctions between excitatory and inhibitory synapses and their functional outcomes.

Explain the formation, modification, and role of dendritic spines in neural connectivity and learning.

Understand the effect of various substances and conditions (e.g., MPTP, PTSD, antidepressants) on neural function and neurotransmitter systems.

Describe the synthesis processes of different types of neurotransmitters, particularly amine neurotransmitters.

---

Definitions:

Detoxifies

The process of removing toxic substances from a living organism, or converting them into less harmful compounds.

Neandertals

An extinct species or subspecies of archaic humans who lived in Eurasia until about 40,000 years ago, known for their robust build and association with certain cultural artefacts.

Flake Technology

A method used in stone tool making, where flakes were removed from a core stone to create sharp-edged tools by prehistoric peoples.

Obsidian Scalpel

A cutting tool made from obsidian, a naturally occurring volcanic glass, used in precision surgery for its extremely sharp edges.