If a Resident Alien Shareholder Moves Outside the U

question 52

True/False

If a resident alien shareholder moves outside the U.S., the S election is terminated.

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Definitions:

Accounts Payable

The amounts owed by a business to its suppliers or creditors for goods and services received but not yet paid for.

Spreadsheet

A digital tool that organizes data in columns and rows, commonly used for calculations and data analysis.

Cash Flows

The complete volume of financial transactions entering and exiting a business, with a key effect on its financial fluidity.

Investing Activities

Financial transactions and events related to the acquisition or disposal of long-term assets and investments included in a company’s cash flow statement.