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21.These are all recorded on the Schedule M-2, EXCEPT: A.Accumulated adjustments account. B.Accumulated earnings and profits. C.Retained earnings. D.Shareholder's undistributed taxable income previously taxed. 22.An
21.These are all recorded on the Schedule M-2, EXCEPT:
A.Accumulated adjustments account.
B.Accumulated earnings and profits.
C.Retained earnings.
D.Shareholder's undistributed taxable income previously taxed.
22.An S corporation's tax years for 2018-2020 end on 12/28/2018, 12/27/2019, and 12/25/2020. This is a:
A.Fiscal tax year.
B.Natural tax year.
C.52-53-week tax year.
D.Business purpose tax year.
23.An S corporation's cost of goods sold is calculated on:
A.Form 1120-S, page 1.
B.Form 1125-A.
C.Schedule C (Form 1120S)
D.Form 1120-S, page 2.
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