Multiple Choice
Bruin Company reports current E&P of $340,000 in 20X3 and accumulated E&P at the beginning of the year of $170,000. Bruin distributed $540,000 to its sole shareholder on January 1, 20X3. How much of the distribution is treated as a dividend in 20X3?
A) $540,000
B) $510,000
C) $340,000
D) $170,000
Correct Answer:
Verified
Correct Answer:
Verified
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