To receive S corporation treatment, a qualifying shareholder must be an individual, partnership, estate, qualifying trust, or certain kinds of tax-exempt organizations.
Answer the following statement true (T) or false (F)
False
Partnerships may not be S corporation shareholders.
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An oral will that is made before a witness during the testator's last illness is defined as a ________
A) holographic will B) nuncupative will C) living will D) joint will
Which of the following statements is true regarding order winners?
A) They are present in every product. B) They are the same as order qualifiers, only better. C) They persuade a company's customers to choose its product. D) They are the same in every market.
Long-term investments include:
A. Investments in marketable bonds that are intended to be converted into cash in the short-term. B. Investments in marketable stocks that are intended to be converted into cash in the short-term. C. Investments in bonds and stocks that are not readily convertible to cash or not intended to be converted to cash in the short term. D. Only investments readily convertible to cash. E. Investments intended to be converted to cash within one year.
The Rogers family has always wanted to buy the beautiful house at the top of the hill. The owners of the house, the Thompsons, decided to sell and called Mr. Rogers. Before he could get back in touch with Mr. Thompson, Mr. Rogers suffered a heart attack and died. Mr. Rogers' adult daughter, to whom the Thompsons had not spoken, still wants the house. She may:
A) not accept since the offer is terminated. B) not accept because she does not have the capacity. C) accept since the contract offer is assignable. D) accept since the offer cannot be revoked without notice.