Identify Which of the Following Statements Is True

question 78

Multiple Choice

Identify which of the following statements is true.

• A)Convertible debt issues might be considered "stock" for purposes of the S corporation single class of stock requirement.
• B)The S election must be made no later than the fifteenth day of the fourth month of the tax year for which the election is to be effective.
• C)A majority of shareholders must consent to the S corporation election.
• D)All of the above are false.

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Definitions:

Knowledge-intensive

Relating to industries or activities that heavily rely on professional knowledge or expertise.

Labour Force

The total number of people who are employed or actively seeking employment.

Functionalism

A sociological perspective that views society as a complex system whose parts work together to promote solidarity and stability.

Unionized

Refers to workers who are members of a union, which represents their interests regarding wages, working conditions, and benefits.