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If Annie and Andy (Each a 30 Percent Shareholder in a Calendar-Year

question 93

Multiple Choice

If Annie and Andy (each a 30 percent shareholder in a calendar-year S corporation) file a revocation statement on March 20, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?


Definitions:

Cerebellum

A large structure of the vertebrate brain, located under the occipital lobe, that plays an important role in motor control.

Reticular Formation

An extensive network of neurons located in the brainstem that plays a key role in controlling arousal and consciousness.

Scientific Approach

A methodological way of seeking knowledge that involves observation, hypothesis formulation, experimentation, and conclusion.

Psychology

The scientific study of behavior and mental processes.

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