Multiple Choice
In 2000, Mark purchased 100 shares of Roman, Inc. for $10 per share. In 2004 Roman, Inc. completely liquidated and distributed $8,000 to Mark. Mark must report income from this distribution as:
A) Ordinary other income
B) Dividends
C) Capital gains
D) Return of capital
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Randy Lee is an ordained minister of
Q3: A partnership, S corporation or personal service
Q4: The Becks own and operate an assisted-living
Q5: Tom Brown, who is single, owns a
Q6: The board of directors of Walden Corporation
Q7: York, Inc. directly owns stock of Ajax
Q8: The Lux Corporation incurred $10,000 in start-up
Q9: A corporate payer of an individual shareholder
Q10: The Office of Professional Responsibility can censure,
Q11: Which of the following costs incurred on