10. Where on the corporate tax return would you find a reconciliation of net income per books to trxable income before net operating loss and dividends received deduction (DRD)? a. ScheduleJ b. Schedule L. c. Schedule M-1 d. Schedule M-2 e. This reconciliation is not shown on the corporate tax return 11. Sebedules L, M-1, and M-2 do not have to be completed by corporations with: a. less than $250,000 of total assets at the end of the year. b. less than $250,000 of total receipts for the year. c. total assets at the end of the year of at least $250,000. d. Both a., and b. e. Both b. and c. 12. Which one of the following is not a deductible expense in computing partnership ordinary. income? a. Guarantecd payments to partners b. Salaries and wages paid to persons who are not partners c. Investment interest d. Contributions to employee benefit plans c. All of the above are deductible in computing partnership ordinary income. 13. Wlich of the following types of businesses would not be considered as a flow-through critity? 3. LIP b. 1.6 c. S corporations d. C corporations: c. All of the above are considered flow-through entities. 14. Al is a 50% general partner in AB partnership. Al's basis in AB at the begining of the year is $19,000. During the year, AB reports an ordinary loss of $22,000, and a $10,000 increase in liabilities. AB distributes $6,000 eash to Al during the year. At the end of the year, Al's basis in AB partnership is: B. $2,000 b. $10,000