Explanation: Owners of Unincorporated Entities Can Be Either Individuals or Corporations.In

question 1

Multiple Choice

Explanation: Owners of unincorporated entities can be either individuals or corporations.In either case, the tax year-end of the entity must match the tax year-end of the owner.
Difficulty: 2 Medium
Topic: Entity Tax Characteristics
Learning Objective: 12-03 Identify fundamental differences in tax characteristics across entity types.
Bloom's: Remember
Accessibility: Keyboard Navigation; Screen Reader Compatible
AICPA/AACSB: BB Critical Thinking / Reflective Thinking
-Roberto and Reagan are both 25-percent owner/managers for Bright Light Inc.Roberto runs the retail store in Sacramento, CA, and Reagan runs the retail store in San Francisco, CA.Bright Light Inc.generated a $125,000 profit companywide made up of a $75,000 profit from the Sacramento store, a ($25,000) loss from the San Francisco store, and a combined $75,000 profit from the remaining stores.If Bright Light Inc.is an S corporation, how much income will be allocated to Roberto?

• A)$31,250
• B)$62,500
• C)$75,000
• D)$125,000

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Non-Disease Genes

Genes that do not directly cause diseases but may influence an individual's risk factors or traits that are not considered pathological.

Reproductive Decisions

Choices and judgements made by individuals or couples regarding childbirth, the use of reproductive technologies, and other matters concerning reproduction.

Moral Obligation

A duty or commitment to act in ways considered ethical and right, often irrespective of legal obligations.

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Taking into account genetic factors or information in evaluation or decision-making processes.