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Rajib Is the Sole Shareholder of Robin Corporation, a Calendar

question 20

True/False

Rajib is the sole shareholder of Robin Corporation, a calendar year S corporation.Robin earned net profit of $350,000 ($520,000 gross income - $170,000 operating expenses) and distributed $80,000 to Rajib.Rajib must report Robin Corporation profit of $350,000 on his Federal income tax return.


Definitions:

Epididymis

An elongated, twisted duct responsible for holding and transporting sperm from the testicles to the vas deferens.

Ductus Deferens

A muscular tube in the male reproductive system that carries sperm from the epididymis to the ejaculatory duct.

Ejaculatory Duct

A duct through which semen is ejected into the urethra in preparation for ejaculation.

Pseudostratified Columnar Epithelium

A type of epithelial tissue with cells of varying heights giving the appearance of layering, found in locations like the respiratory tract.

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