S Status Can Be Elected If 50% of All Shareholders

question 36

True/False

S status can be elected if 50% of all shareholders consent to the S corporation election on the date of the S corporation election.

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Definitions:

Foreign Distribution Agreement

A legal contract between parties from different countries for the distribution of goods or services in a foreign market.

Political Risk Insurance

A type of insurance that provides financial protection to investors, firms, and projects from losses due to political events or actions in a given country.

Force Majeure Clause

A contract provision that frees parties from liability or obligation when an extraordinary event or circumstance beyond their control occurs.

Commercial Arbitration

A form of arbitration to resolve business disputes outside the courts, where the parties involved appoint an arbitrator(s).