Several Individuals Acquire Assets on Behalf of Skip Corporation on May

question 89

Multiple Choice

Several individuals acquire assets on behalf of Skip Corporation on May 28, purchased assets on June 3 and began business on June 11. They subscribe to shares of stock, file articles of incorporation for Skip, and become shareholders on June 21. The S election must be filed no later than two and one-half months after:

• A) May 28.
• B) June 3.
• C) June 11.
• D) June 21.
• E) December 31.

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Definitions:

Fragmentation

The process or state of breaking or being broken into small or separate parts, often leading to a lack of cohesion or unity.

Mental Health Professional

A trained individual, such as a psychologist, psychiatrist, or counselor, specializing in diagnosing, treating, and helping people manage mental health issues and disorders.

Skilled Therapist

A health professional trained in providing effective therapy and support for mental, emotional, or physical health issues.

Licensed Therapist

A professional who has received the necessary certification and permits to provide therapeutic services to clients.