Which One of the Following Individuals or Entities Is Ineligible

question 51

Multiple Choice

Which one of the following individuals or entities is ineligible to be an S corporation shareholder?

• A)an estate
• B)resident alien of the United States
• C)a voting trust where all of the beneficiaries are U.S. citizens
• D)a partnership where all of the partners are U.S. citizens

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Definitions:

Horizontal Mergers

The combination of two or more firms operating at the same level in an industry.

Clayton Act

A U.S. antitrust law passed in 1914, aimed at promoting fair competition and preventing unlawful monopolies by regulating certain business practices.

Department of Justice

A federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice.

Per Se Violations

Actions that are considered inherently illegal under antitrust laws, without needing to prove their harm on competition.