Which of the following criteria must be satisfied for a corporation to be treated as an S corporation?

A. The corporation's shareholders must be other corporations or partnerships.
B. The corporation's shareholders must be citizens or residents of the United States.
C. The corporation must have more than 100 shareholders.
D. The corporation must have more than one class of stock.


Answer: B

Business

You might also like to view...

A company issued 5-year, 8% bonds with a par value of $94,000. The company received $91,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:

A. $7930.60. B. $7520.00. C. $3965.30. D. $3554.70. E. $3760.00.

Business

Which retail institution is most likely to appeal to a concentrated market segment?

a. department store b. specialty store c. conventional supermarket d. superstore

Business

Gross margin equals operating income

Indicate whether the statement is true or false

Business

Reciprocal dealing is a type of vertical cooperative strategy.

Answer the following statement true (T) or false (F)

Business