_____ 18.The AAA of the S corporation is a corporate level account.

Name: _____ 18.The AAA of the S corporation is a corporate level account.
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The AAA (accumulated adjustments account) of an S corporation is a corporate level account that tracks the S corporation's accumulated items of income, deduction, and credit that have passed through to its shareholders. It reflects the accumulated amount of income that has not been distributed to the shareholders as dividends.

_____ 18The AAA of the S Corporation Is a Corporate Level