An S Election Is Terminated If the S Corporation Has

question 121

True/False

An S election is terminated if the S corporation has passive investment income in excess of 20 percent of gross receipts for three consecutive years.

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Definitions:

Centrosomes

Organelles that serve as the main microtubule organizing centers in animal cells, playing a critical role in cell division.

Crossing-Over

Exchange of segments between non-sister chromatids of a bivalent during meiosis.

Chromatids

One of two identical halves of a duplicated chromosome, joined together by a centromere and separated during cell division.

Genetic Material

The molecules responsible for heredity and variation of organisms, primarily DNA or RNA in viruses.