If Annie and Andy (Each a 30 Percent Shareholder in a Calendar-Year

question 93

Multiple Choice

If Annie and Andy (each a 30 percent shareholder in a calendar-year S corporation) file a revocation statement on March 20, 2019, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?

• A)January 1, 2019.
• B)March 18, 2019.
• C)January 1, 2020.
• D)March 16, 2020.
• E)None of the choices are correct.

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Definitions:

Passionate Love

An intense emotional and physical longing for union with another person, often characterized by infatuation and the desire for intimacy.

Swaying Footbridge

A scenario referring to an unstable or moving footbridge, often used in studies to measure stress response or fear-induced attractions.

Social Exchange Theory

A theory suggesting that human relationships are formed by the use of a subjective cost-benefit analysis and the comparison of alternatives.

Altruistic Behavior

Action taken to benefit others without expecting personal gains, driven by selfless concern for the well-being of others.