21. For a partnership, in what areas on a partnership return would one find gros

Question

21. For a partnership, in what areas on a partnership return would one find gross income? a. Page 1 Form 1065 b. Schedule K Form 1065 c. Schedule L Form 1065 d. A and B above e. A and C above 22. For an S Corporation, in what areas on an S Corporation return would one find gross income? a. Page 1 Form 1120 S b. Schedule K Form 1120 S c. Accumulated Adjustments Account d. A and B above e. B and C above 23. Constructive receipt doctrine applies to accrual basis taxpayers a. True b. False 24. An accrual basis taxpayer must include prepaid rent payments received in advance a. True b. False 25. A below market loan between a closely held corporation and its majority shareholder will be considered to be a dividend by the corporation to its majority shareholder a. True b. False

Explanation / Answer

21-d gross income includes gross income from all sources and gross profits of the organization.

22-d

23-b

24-b,prepaid rent received in advance must be accounted for on receipt basis

25-a

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.