An S Corporation Cannot Have More Than ____ Shareholders

question 32

Multiple Choice

An S Corporation cannot have more than ____ shareholders.

• A)100
• B)75
• C)50
• D)25

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Definitions:

Equipment

Tangible property used in the operation of a business, not intended for resale.

Operating Activity

Transactions and other events that affect the net income of a business, typically from primary business operations.

Statement of Cash Flows

A document that outlines the effects of changes in accounts on the balance sheet and revenue on cash and cash equivalents, categorized by operating, investing, and financing actions.

Financial Statement

Documents that provide an overview of a company’s financial condition, including balance sheet, income statement, and cash flow statement.