An S Corporation Can Have Both Voting and Nonvoting Common

question 103

True/False

An S corporation can have both voting and nonvoting common stock as long as the shares of stock have identical rights to share in the profits and assets of the corporation.

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Definitions:

New Clients

Individuals or entities that establish a professional relationship with a service provider or business for the first time.

Notification

The process of formally or officially informing someone about something.

Partnership Affairs

Aspects of business operations and decision-making that concern the relationship, responsibilities, and activities within a partnership.

Implied Authority

Authority of an agent that is not explicitly stated but inferred from the agent's actions or the circumstances.