Phillip and Dwight Have Sold Stock to Eight of Their

question 143

Multiple Choice

Phillip and Dwight have sold stock to eight of their friends and have enough money to expand the business and to open another store.During a shareholders' meeting,Phillip,Dwight,and the eight other shareholders unanimously agreed that it would be better to pass through the company's profits and losses like a partnership.All of the shareholders are individuals and United States citizens.The shareholders could vote to change the corporation into a(n)

• A) S-corporation.
• B) limited liability company.
• C) alien corporation.
• D) foreign corporation.

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Definitions:

N-hexane

A straight-chain alkane with the formula C6H14, used as a non-polar solvent in the extraction of edible oils from seeds and vegetables.

Densities

The mass of a substance per unit volume, indicating how compact the substance is.

Boiling Point

The temperature at which a liquid's vapor pressure equals the external pressure surrounding the liquid, causing it to turn into vapor.

Isomeric Alkanes

Alkanes that have the same molecular formula but differ in the structural arrangement of their atoms.