To Qualify for Subchapter S Status,a Supermajority of the Shareholders

question 39

True/False

To qualify for Subchapter S status,a supermajority of the shareholders must consent to the Subchapter S designation.

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Definitions:

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or organization.

Schein's Three Categories

A framework identifying three levels of organizational culture: artifacts, espoused values, and underlying assumptions.

Nonprofit Sector

The part of an economy made up of organizations that are not aimed at profit-making but rather at serving a public or community benefit.

Resource Dependency

A theory that describes how external resources of organizations influence the organization's behavior and strategic decisions.