Tiny Co Is for Sale

question 2

Multiple Choice

Tiny Co. is for sale. The corporation has never had shareholdings in other corporations. Which of the following is NOT one of the conditions necessary in the 24 months preceding the sale of shares for qualified small business corporation status to apply for Tiny Co.?

• A) Tiny Co. must be a CCPC.
• B) Tiny Co's shares must not be owned by an unrelated person.
• C) More than 50% of the fair market value of the assets must be 'active business' assets.
• D) More than 90% of the fair market value of the assets must be 'active business' assets.

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Definitions:

Academic Plans

Strategized programs or outlines created by students or educational institutions to achieve educational objectives.

Advisor

A person who gives advice, typically in a professional setting, such as an academic advisor guiding students in their course selections and career goals.

Central Purpose

The primary or main goal, aim, or objective of an activity, organization, or piece of work.

Experience

The knowledge or skill acquired by a person through involvement in or exposure to events or activities over a period of time.