Several Individuals Acquire Assets on Behalf of Skip Corporation on May

question 94

Multiple Choice

Several individuals acquire assets on behalf of Skip Corporation on May 28,2013,purchased assets on June 3,2013,and began business on June 11,2013.They subscribe to shares of stock,file articles of incorporation for Skip,and become shareholders on June 21,2013.The S election must be filed no later than 2 1/2 months after:

• A)May 28,2013.
• B)June 3,2013.
• C)June 11,2013.
• D)June 21,2013.
• E)December 31,2013.

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Definitions:

Development Sales Territories

The process of organizing and dividing a geographical area or market into specific segments or territories for more efficient sales management and targeting.

Inefficient

Lacking in effectiveness or the ability to produce a desired outcome without wasting materials, time, or energy.

Networking

The act of interacting with others to exchange information and develop professional or social contacts.

Mutual Investment

A cooperation or partnership model where two or more parties invest resources, such as time, money, or expertise, towards a common goal or venture.