Identify Which of the Following Statements Is True

question 28

Multiple Choice

Identify which of the following statements is true.

• A)All of the shareholders of an S corporation must consent to a revocation of the S election.
• B)A revocation of an S corporation election can be retrospective to any date.
• C)An S election will not be terminated due to excess passive income if the corporation does not have Subchapter C E&P.
• D)All of the above are true.

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Definitions:

Searches Folder

A feature in many email or file management applications that stores search queries or the results of those queries for quick access.

File Explorer

A graphical file management utility included with Windows operating systems, used for browsing, opening, and organizing files and folders.

User Folder

A directory on a computer allocated to a specific user, containing personal files, settings, and information.

Taskbar

A feature of a graphical user interface, usually located at the bottom of the screen, providing quick access to open applications and system notifications.