In 2018, Joanne Invested $90,000 for a 20% Interest in a Limited

question 4

Multiple Choice

In 2018, Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2018 and $180,000 in 2019. Joanne's share of the LLC's losses was $68,000 in 2018 and $36,000 in 2019. How much of these losses can Joanne deduct?

• A) $68,000 in 2018? $36,000 in 2019.
• B) $68,000 in 2018? $22,000 in 2019.
• C) $0 in 2018? $0 in 2019.
• D) $68,000 in 2018? $0 in 2019.
• E) None of the above.

Appreciate the importance of the Sarbanes-Oxley Act of 2002 in enhancing corporate responsibility and protecting investors.

Understand how securities laws apply to various actors in the securities market, including corporate "outsiders".

Understand key provisions and requirements under the Securities Exchange Act of 1934 and Sarbanes-Oxley Act of 2002.

Identify corporate governance practices and their significance.

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Definitions:

Persistent Mental Illness

Long-term mental health conditions that affect a person's thinking, feeling, mood, and behavior, requiring ongoing management.

Adult Attention Deficit Hyperactivity Disorder (ADHD)

A neurodevelopmental disorder affecting adults, characterized by inattention, hyperactivity, and impulsivity.

Inattention

Lack of focus or concentration on tasks or the environment, often leading to mistakes or incomplete work.

Trichotillomania

A mental disorder characterized by an irresistible urge to pull out one's hair, leading to hair loss and significant distress.