Question: The S corporation's M-2 has an account titled Shareholder's undistributed taxable income previously taxed. This account is maintained: a) Annually b) Only if there is

The S corporation's M-2 has an account titled "Shareholder's undistributed taxable income previously taxed." This account is maintained:

a)  Annually

b)  Only if there is a balance in the account at the beginning of the current year

c)  When there is no balance in the account at the beginning of the year

d)  Never

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