Which Transaction Affects the Other Adjustments Account on an S

question 23

Multiple Choice

Which transaction affects the Other Adjustments Account on an S corporation's Schedule M-2?

• A) Payroll penalty.
• B) Unreasonable compensation.
• C) Life insurance proceeds (nontaxable to the recipient S corporation).
• D) Taxable interest.

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Definitions:

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QSEN Competency

A set of competencies for the Quality and Safety Education for Nurses project aimed at preparing nurses with the knowledge, skills, and attitudes necessary for continuously improving the quality and safety of the healthcare systems in which they work.