On January 2, 2016, Tim loans his S corporation $10,000. By the end of 2018, Tim's stock basis is zero, and the basis in his note has been reduced to $8,000. During 2019, the company's operating income is $10,000. The company makes 2019 distributions to Tim of $8,000. Tim reports a(n):

a. $2,000 LTCG.
b. $8,000 LTCG.
c. Stock basis of $2,000.
d. Loan basis of $10,000.

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.

Which of the following is considered part of a country’s infrastructure?

Eon inc., electravia inc., and fc inc., the three largest firms in the consumer electronics industry, hold close to 85 percent of the industry's market share. these companies mainly compete against each other by providing unique features in their products rather than pricing them low. these firms are interdependent, and each firm must consider the strategic actions of its competitors. which of the following industry competitive structures does this scenario best illustrate? monopolistic competition oligopoly monopoly perfect competition