S Corporation Status Means

question 70

Multiple Choice

S corporation status means: 

• A) shareholders do not have limited liability.
• B) the corporation is subject to a minimum tax of 34 percent.
• C) consent by a majority of shareholders is required for the election of this form of business.
• D) the corporation pays no tax.

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Definitions:

Bilateral Symmetry

A body plan in which organisms have body shapes that are mirror images along a midline called the sagittal plane.

Water Vascular System

A network of water-filled canals in echinoderms, like starfish, used for locomotion, feeding, and gas exchange.

Tube Feet

Structures characteristic of echinoderms; function in locomotion and feeding.

Spiny Skin

A characteristic feature of echinoderms, a phylum of marine animals that includes sea stars, sea urchins, and their relatives, distinguished by their spiny skin and radial symmetry.