Personality tests assess an applicant's traits and temperaments and help firms determine an individual's leadership and teamwork skills

Director interlock refers to a situation that arises when an individual sits on the board of directors of two or more corporations.

a. true b. false

At the beginning of the year, Ryan's capital account balance in the RUS Partnership (in which Ryan owned a 40% interest) was $200,000 . During the year Ryan contributed cash ($40,000) and property (basis = $20,000, fair market value = $30,000). RUS reported ordinary income of $100,000 and tax-exempt income of $6,000 . At the end of the year, the partnership distributed $6,000 of cash to Ryan. On

the Schedule K-1, the partnership shows that Ryan had a $50,000 share of nonrecourse LLC debt at the end of the year. Using the tax basis method, how much is Ryan's ending capital account balance? a. $294,000. b. $296,400. c. $306,400. d. $344,000. e. $346,400.