Which Statement Is Correct with Respect to Filing an S

question 101

Multiple Choice

Which statement is correct with respect to filing an S election?

• A)Form 2553 must be filed.
• B)All shareholders must consent.
• C)The election may be filed in the previous year.
• D)An extension of time is available for filing Form 2553.
• E)All of the above statements are correct.

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Definitions:

Operating Procedures

Standardized instructions or methods that outline how specific tasks or operations should be performed.

Standard Operating Procedures

Detailed, written instructions designed to achieve uniformity of the performance of a specific function or operation within an organization.

Memorandums

Also known as memos, they are brief written messages used within an organization to communicate policies, procedures, or official business among employees.

External Audiences

Groups or individuals outside of an organization who are interested in or affected by its activities and communications.