Clampett, Inc

Multiple Choice

Clampett, Inc.(an S corporation) previously operated as a C corporation.Under general rules, distributions from Clampett, Inc., are deemed to be paid in the following order:

A) Shareholder's remaining stock basis, prior C corporation earnings and profit, the AAA account.
B) Shareholder's remaining stock basis, the AAA account, prior C corporation earnings and profit.
C) Prior C corporation earnings and profit, the AAA account, shareholder's remaining stock basis.
D) The AAA account, prior C corporation earnings and profit, shareholder's remaining stock basis.
E) None of the choices are correct.