The Election of Subchapter S Status by a Corporation Is

question 86

True/False

The election of Subchapter S status by a corporation is valid only if all shareholders consent to the election.

---

Definitions:

Shortage

A circumstance in which the market desire for a service or product is greater than the supply.

Surplus

The situation in which the quantity supplied of a product exceeds the quantity demanded, often leading to price decreases.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers.

Price Floor

A minimum price set by the government for certain goods and services, intended to ensure fair conditions for producers.