Which Item Has No Effect on an S Corporation's AAA

question 121

Multiple Choice

Which item has no effect on an S corporation's AAA?

• A) Stock purchase by a shareholder.
• B) Interest expense.
• C) Cost of goods sold.
• D) Capital loss.
• E) All have an effect on AAA.

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Definitions:

Racial Discrimination

Unjust treatment of individuals based on their race or ethnicity.

Immigrants

People who move from one country to another, usually for the purpose of seeking better living conditions, employment, or to escape conflict.

American Protective Association

A late 19th-century anti-Catholic, anti-immigrant organization in the United States aimed at restricting Catholic immigration and reducing the influence of Catholics in public and political life.