During the Period 2008/09 All Three Measures of the Unemployment

question 75

Multiple Choice

During the period 2008/09 all three measures of the unemployment rate

• A)increased sharply.
• B)reached at least 10 per cent.
• C)remained constant.
• D)continued to decrease.
• E)None of the above.

Recognize and categorize items that are separately stated on Schedule K-1 for a Subchapter S corporation.

Analyze dividend distributions in the context of corporate earnings and profits, stockholder basis, and determine the categorization of distributions.

Assess financial statement net income adjustments to determine a corporation's taxable income.

Understand how partnership income and losses, including separately stated items, are reported and impact individual partners.

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Definitions:

Majority

A term used to describe persons who have reached the legal age of adulthood.

Equal Dignities Rule

The legal rule that provides that when a party appoints an agent to negotiate an agreement that must be in writing, the appointment of the agent must also be in writing.

Consideration

In contract law, something of value exchanged between parties that is required for the formation of a legal contract.

Assignment

The transfer of a contract right from one person to another.