Which of the Following Is False Regarding Requirements Needed for a Business

question 70

Multiple Choice

Which of the following is false regarding requirements needed for a business to qualify as an S corporation?

• A) It must have no more than 100 shareholders.
• B) Individuals, trusts, partnerships, and in some circumstances corporations can be shareholders.
• C) All S corporations must be domestic corporations.
• D) No shareholder can be a nonresident alien.
• E) S corporations can issue only one class of shares, although they need not have identical voting rights.

---

Definitions:

Protesters

Individuals who participate in public demonstrations expressing opposition to policies, actions, or situations they find unjust or unacceptable.

George C Wallace

An American politician who served as the Governor of Alabama and was known for his segregationist attitudes during the Civil Rights Movement.

Presidential Election

A process in which citizens or their elected representatives vote for a candidate to become the President of a country.

Own Ticket

A term often used in politics and events indicating that someone has nominated themselves or is independently pursuing a goal without formal backing from an established institution or group.