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:

Normative

Pertaining to statements or norms that express values, judgments, or opinions on what should be, rather than what is.

Normative Statement

A type of statement that expresses a value judgment about what ought to be, based on personal beliefs rather than hard facts.

Normative Statement

A statement that expresses a value judgment or opinion about what ought to be, rather than what is empirically observable.

Normative Statement

A statement that expresses a value judgment about whether a situation is desirable or undesirable. It reflects opinions rather than facts.