Which of the Following Taxpayers Use a Schedule K and K-1

question 2

Multiple Choice

Which of the following taxpayers use a Schedule K and K-1 to pass through income,loss,and credit amounts to the owners or beneficiaries?

• A)Partnership.
• B)Trust.
• C)S corporation.
• D)All of the above taxpayers use Schedule K and K-1.

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Definitions:

Morpheme

The smallest significant unit of meaning in a word (e.g., the word boys has two morphemes, boy and -s).

Phoneme

The smallest significant unit of sound in a language. Alphabetic characters roughly correspond to phonemes (e.g., apt, tap, and pat are all made up of the same phonemes).

Hierarchical Structure

An organizational structure where entities are ranked one above the other based on their level of authority or importance.

Phonemes

The smallest units of sound in a language that are capable of conveying a distinct meaning.