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:

Activity Intolerance

A decreased capacity to engage in physical or mental activities, often due to factors like illness, heart failure, or respiratory problems.

Airway Capacity

Refers to the ability of the respiratory passage to effectively allow air flow in and out of the lungs, vital for breathing and oxygen exchange.

Rehab Therapy

A form of healthcare dedicated to helping individuals recover, improve, or maintain their physical abilities, often following injury or illness.