Which of the Following Will Render a Corporation Ineligible for S

question 60

Multiple Choice

Which of the following will render a corporation ineligible for S corporation status?
I.The corporation has 125 stockholders.
II.One of the stockholders is another corporation.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Vital Capacity

The maximum volume of air a person exhales after filling the lungs to the maximum extent.

Bohr Effect

Increased oxyhemoglobin dissociation due to lowered pH; occurs as carbon dioxide concentration increases.

Partial Pressure

Partial pressure is the pressure that a gas in a mixture of gases would exert if it alone occupied the same volume at the same temperature, important in calculations involving gas laws.

Hemoglobin

A protein found in red blood cells that carries oxygen from the lungs to the rest of the body and returns carbon dioxide from the body to the lungs.