Identify Which of the Following Statements Is True

question 78

Multiple Choice

Identify which of the following statements is true.

• A)Convertible debt issues might be considered "stock" for purposes of the S corporation single class of stock requirement.
• B)The S election must be made no later than the fifteenth day of the fourth month of the tax year for which the election is to be effective.
• C)A majority of shareholders must consent to the S corporation election.
• D)All of the above are false.

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Definitions:

Down Syndrome

A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by developmental delays and physical features such as a flat facial profile.

Genetic Disorders

Diseases or conditions that result from abnormalities in an individual's DNA, often inherited from one's parents.

Trisomy

Chromosome condition in which a diploid cell has one more chromosome than normal; designated as 2n + 1.

Extra Copy

In genetics, refers to an additional copy of a gene or chromosome segment, potentially leading to variations in traits or disease susceptibility.