Identify Which of the Following Statements Is True

question 87

Multiple Choice

Identify which of the following statements is true.

• A)The S corporation rules were enacted to allow small corporations to enjoy the nontax advantages of the corporate form of business without being subject to the tax disadvantage of double taxation.
• B)A partnership can elect to be taxed as a corporation under the check-the-box regulations. As a corporation, an S election can be made.
• C)For C corporations that desire to be taxed like a partnership, the S corporation rules provide a practical alternative for an existing C corporation to obtain many of the tax benefits of being taxed as a partnership.
• D)All of the above are true.

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