Rayburn owns all the shares of newcastle corporation, which operates as an s corporation. rayburn's basis in the stock is $15,000. during the year, he receives a cash distribution of $22,000 from newcastle. what must rayburn and newcastle report as income from the cash distribution?

Partnerships are the most common type of business firms in the world. t/f

Buyer henry is going to accept seller shannon's $282,500 counteroffer. when will this counteroffer become a contract. a. counteroffers cannot become contracts b. when henry gives shannon notice of the acceptance c. when henry signs the counteroffer d. when shannon first made the counteroffer

Apopular low-cost airline, parson corp., has gone out of business. although the service and price provided by the airline was what customers wanted, the larger airlines were able to drive the low-cost airline out of business through an aggressive price war. which component of the competitive environment does this illustrate? a) threat of new entrants b)competitors c) economic factors d) customers d) regulators