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Describe the effect of a distribution in a year when the distributing corporation has aany of the following:

a. A deficit in accumulated E & P and a positive amount in current E & P.

b. A positive amount in accumulated E & P and a deficit in current E & P.

c. A deficit in both current and accumulated E & P.

d. A positive amount in both current and accumulated E & P.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971262

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