On March 4,2016,all of the Shareholders of Kingfisher Corporation (A

question 177

True/False

On March 4,2016,all of the shareholders of Kingfisher Corporation (a calendar year entity)voluntarily revoke the S election (effective as soon as possible).For all of 2016,Kingfisher Corporation will be a C corporation.

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Definitions:

Bureaucracy

An administrative system, especially in a government, characterized by hierarchy, fixed rules, and a detailed division of labor.

Norms

Socially accepted rules or standards of behavior that guide individuals' actions in a group.

Culture

The shared values, beliefs, norms, practices, and customs of a group of people that shape their behavior and interactions.

Behavior

The observable actions and reactions of individuals or groups in a particular context or environment.