On January 2,2016,David Loans His S Corporation $10,000

question 98

Multiple Choice

On January 2,2016,David loans his S corporation $10,000.By the end of 2016 David's stock basis is zero and the basis in his note has been reduced to $8,000.During 2017,the company's operating income is $10,000.The company makes 2017 distributions to David of $11,000.David reports a(n) :

• A)$1,000 LTCG.
• B)$3,000 LTCG.
• C)$11,000 LTCG.
• D)Loan basis of $10,000.

Understand the impact of cultural differences on communication barriers.

Identify the effects of communication patterns on interpersonal relationships.

Understand the role of impression management in interpersonal communication.

Understand the nature of creativity in the entrepreneurial process.

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Definitions:

Unanticipated Inflation

A rate of inflation that is either higher or lower than expected.

Creditors and Debtors

Creditors are entities or individuals to whom money is owed, while debtors are those who owe money to another party.

Unemployed

The state of being without a paid job despite actively seeking work.

Labor Force

The total number of people employed or seeking employment in a country or particular area.