Which of the Following Is Not a Requirement for Qualification

question 6

Multiple Choice

Which of the following is not a requirement for qualification as an S corporation?

• A)The corporation must be a domestic corporation.
• B)The corporation must have 25 or fewer shareholders.
• C)The corporation must have only one class of stock outstanding.
• D)The shareholders of the corporation must not be nonresident aliens.
• E)None of the above.

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Definitions:

Possessions

Items or assets owned by an individual or entity.

Durable Power

A legal document that grants someone the authority to act on your behalf in legal and financial matters, continuing even if you become incapacitated.

Financial Decisions

The process of making choices regarding the management, investment, and expenditure of money.

Health Deteriorate

A condition where an individual's physical or mental well-being declines over time.