If Annie and Andy (Each a 30% Shareholder in an Calendar

question 110

Multiple Choice

If Annie and Andy (each a 30% shareholder in an calendar year S corporation) file a revocation statement on February 10, 2017 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) February 10, 2017.
• B) January 1, 2018.
• C) February 10, 2018.
• D) January 1, 2017.
• E) None of the choices are correct.

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Definitions:

External Factors

Elements outside an organization or individual's control that can impact their performance, decision-making, and strategies.

Internal Personal Factors

The psychological or physiological aspects within an individual that influence their behavior, choices, and interactions.

Positive Reinforcement

Positive reinforcement strengthens a behavior by making a desirable consequence contingent on its occurrence.

Successive Approximations

A technique in behavior modification where desired behaviors are gradually learned through a series of steps that get closer to the target behavior.