Which Statement Is Incorrect with Respect to an S Shareholder's

question 44

Multiple Choice

Which statement is incorrect with respect to an S shareholder's consent?

• A)A consent extension is available only if Form 2553 is filed on a timely basis, reasonable cause is given, and the interests of the government are not jeopardized.
• B)Both husband and wife must consent if one owns the stock as community property.
• C)An S election requires a consent from all of the S corporation's shareholders.
• D)A consent must be in writing.
• E)None of the above statements is incorrect.

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Definitions:

Introverts

Individuals who prefer solitary activities and require less stimulation from the external world compared to extroverts, often finding energy in reflection and solitude.

Electra Complex

A psychoanalytic theory proposed by Freud, suggesting a girl's psychosexual competition with her mother for possession of her father.

Freudian Slip

An unintentional error in speech or action that is interpreted as revealing subconscious thoughts or desires.

Repressed Memory

A theory suggesting that memories of traumatic events may be stored in the unconscious mind and inaccessible to conscious recall.