Identify Which of the Following Statements Is True

question 66

Multiple Choice

Identify which of the following statements is true.

• A) An S corporation can have more than 100 shareholders, since families are treated as a single shareholder.
• B) A nonresident alien can be an S corporation shareholder.
• C) A partnership can be an S corporation shareholder.
• D) All of the above are false.

Comprehend the principles of recursion, including direct and mutual recursion.

Understand the obligations and liabilities of new partners in a partnership concerning existing debts.

Comprehend the liability of partners for contracts and torts committed in the course of partnership business.

Learn the processes and legal requirements for a partner withdrawing from a partnership under the Uniform Partnership Act (UPA).

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Definitions:

Entrepreneurial Abilities

The skills and qualities that enable an individual to identify opportunities, allocate resources, and create value or start a business.

Housing Discrimination

The illegal practice of denying an individual or group the opportunity to buy or rent housing based on race, gender, ethnicity, religion, or other protected status.

William Levitt

An American real-estate developer recognized for popularizing the concept of mass-produced suburbia with his development of Levittown.

Suburbanization

The process of population movement from within cities to the outskirts, creating residential and sometimes business developments.