Which of the Following, If Any, Can Be Eligible Shareholders

question 64

Multiple Choice

Which of the following, if any, can be eligible shareholders of an S corporation?

• A) A Roth IRA.
• B) A partnership.
• C) A non-U.S. corporation.
• D) A nonqualifying trust.
• E) None of these.

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Definitions:

Plantation Work

Labor performed on large agricultural estates, historically associated with slavery and the cultivation of cash crops such as tobacco, cotton, and sugar.

Fugitive Slave Act

The Fugitive Slave Act was a law passed by the United States Congress in 1850 to provide for the return of slaves who escaped from one state into another state or territory.

American Colonization Society

An organization established in the early 19th century aimed at resettling free African-Americans to Africa; Liberia was a significant colony established by this society.

Liberia

A West African country founded in the 19th century by freed slaves from the United States.