The Election of Subchapter S Status by a Corporation Is

question 86

True/False

The election of Subchapter S status by a corporation is valid only if all shareholders consent to the election.

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Definitions:

Desert Pavement

A natural concentration of pebbles and other rock fragments that mantle a desert surface of low relief.

Cross-Cutting Relations

A geological principle stating that any geologic feature that cuts across another feature must be younger than the feature it cuts.

Inclusions

Pieces of one rock unit that are enclosed within another rock unit, often used in geology to determine the relative age of rock layers.

Original Horizontality

A principle stating that sedimentary rocks are deposited in horizontal or nearly horizontal layers under the action of gravity.