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:

Ethical Supply Management

The practice of ensuring that the supply chain operations adhere to ethical standards, including fairness, sustainability, and respect for human rights.

Standards

Established requirements, specifications, or guidelines designed to ensure products, services, and processes are consistent and meet predetermined quality levels.

Weeks Of Supply

A measure of inventory management that indicates how many weeks' worth of inventory is on hand, based on current sales rates.

Inventory

The total quantity of goods or materials held by a business for the purpose of sale or production.