Multiple Choice
Billy's father owns a controlling interest in Big Top Corporation.Billy needed $20,000 to pay a gambling debt and the corporation made a loan to Billy at no interest for the $20,000.This transaction can be characterized as:
A) A gift loan to Billy
B) An employment-related loan
C) An arm's length loan
D) A disguised dividend to the father
Correct Answer:
Verified
Correct Answer:
Verified
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