The Election of Subchapter S Status by a Corporation Is

question 86

True/False

The election of Subchapter S status by a corporation is valid only if all shareholders consent to the election.

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Definitions:

Ethical Concern

An issue or situation that requires a judgement about what is morally right or wrong, fair or unfair, responsible or irresponsible.

Interlocking Directorate

A situation where the same individuals sit on the board of directors of several companies, potentially leading to conflicts of interest or undue influence across these companies.

Conflict Of Interest

A situation in which an individual's personal interest could interfere with or appear to interfere with the duties performed in an official capacity.