Bjorn Owns a 35% Interest in an S Corporation That

question 30

Multiple Choice

Bjorn owns a 35% interest in an S corporation that earned $200,000 in 2010.He also owns 10% of the stock in a C corporation that earned $200,000 during the year.The S corporation distributed $10,000 to Bjorn and the C corporation paid dividends of $10,000 to Bjorn.How much income must Bjorn report from these businesses?

• A)$0 income from the S corporation and $0 income from the C corporation.
• B)$10,000 income from the S corporation and $10,000 income from the C corporation.
• C)$70,000 income from the S corporation and $0 income from the C corporation.
• D)$70,000 income from the S corporation and $10,000 of dividend income from the C corporation.
• E)None of the above.

Compute the total outstanding loans based on given banking operations.

Apply mathematical skills to solve problems related to monetary aggregates and banking operations.

Understand the components and functions of the self.

Recognize the societal and cultural influences on the self.

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Definitions:

National Debt

The total amount of money that a country's government has borrowed, through various means, and has yet to repay.

Recognition Lag

Recognition Lag is the time it takes for policymakers to identify an economic problem.

Fiscal Policy

Government policies related to taxation and spending to influence the economy, including measures to adjust the level of aggregate demand in the pursuit of economic objectives.

Vice-President

An official or executive ranking below the president of a country or a company, often with delegated duties or powers and serving as a successor in case the president cannot serve.