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.

---

Definitions:

Formulas Tab

An area in spreadsheet programs where users can find functions and tools to create and manage mathematical equations.

Name Manager

A tool in spreadsheet software used to create, edit, and delete named ranges, making it easier to identify and manage specific data cells or groups.

Defined Name

A descriptive name assigned to a cell, range of cells, formula, or constant value in spreadsheets for easier reference and management.

Apply

To put into action or use a particular method, process, or rule, often in order to achieve a specific result or effect.