Assume That at the End of 2020, Clampett, Incorporated (An

question 97

Multiple Choice

Assume that at the end of 2020, Clampett, Incorporated (an S corporation) distributes property (fair market value of $40,000, basis of $5,000) to each of its four equal shareholders (aggregate distribution of $160,000) . At the time of the distribution, Clampett, Incorporated, has no corporate earnings and profits and J.D. has a basis of $50,000 in his Clampett, Incorporated, stock. How much total income does J.D. recognize as a result of the distribution?

• A)$0
• B)$5,000
• C)$35,000
• D)$40,000
• E)None of the choices are correct.

Grasp the concept of degrees of freedom in the context of statistical testing, particularly with the chi-squared test for normality.

Execute the goodness-of-fit test to assess sample data against a specified distribution.

Interpret the results of statistical tests to make decisions regarding hypothesis testing.

Apply the concept of normality testing in practical scenarios.