Companies need not maintain gross and operating profit margins under inflammatory conditions

A deposit receipt said, "Seller to take back a second trust deed securing a note for $11,400, payable $240.00 or more per month, including interest at 7% per annum from March 15, 1979." If the first payment date on the second trust deed note is April 15, 1979, how much of the regular payment will go to the reduction of principal:

A: $90.25; B: $149.75; C: $154.50; D: $173.50.

To qualify for Subchapter S treatment under the Internal Revenue Code, a domestic corporation must have ________

A) membership in an affiliated group of corporations B) more than 35 shareholders C) only one class of stock outstanding D) at least one nonresident alien shareholder