If an S Corporation's Beginning Balance in OAA Is Zero

question 97

Multiple Choice

If an S corporation's beginning balance in OAA is zero, and the following transactions occur, what is the ending OAA balance?

• A)$1,300
• B)$7,600
• C)$23,300
• D)$27,500
• E)None of the above

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Definitions:

Intense

Describes a state or emotion that is deeply felt or extreme in nature, often implying a high degree of emotional, physical, or activity-related fervor.

Irrational Fear

A fear lacking a logical or reasonable basis, often disproportionate to the actual danger posed by the object or situation.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about various aspects of life.

GABA

Gamma-Aminobutyric Acid, a neurotransmitter in the brain that inhibits many of the activities of the central nervous system.