Multiple Choice
Aztec Company reports current E&P of $200,000 in year 1 and accumulated E&P at the beginning of the year of negative $100,000.Aztec distributed $300,000 to its sole shareholder on January 1, year 1.How much of the distribution is treated as a dividend in year 1?
A) $300,000.
B) $200,000.
C) $100,000.
D) $0.
Correct Answer:
Verified
Correct Answer:
Verified
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