If an S Corporation Inadvertently Terminates Its Election, the IRS

question 33

Multiple Choice

If an S corporation inadvertently terminates its election, the IRS

• A)may permit the corporation to report as an S corporation even for the period that includes the termination date.
• B)will not permit the corporation to restore its S election until the completion of a five-year waiting period.
• C)will permit restoration of the S election only if the event causing the termination was not within the control of the corporation.
• D)will permit restoration of the S election if a majority of the shareholders consent to the reinstatement.

Evaluate the effects of the First World War on racial relations and the experiences of different racial and ethnic groups in the United States.

Understand the reactive vs proactive stance in HR practices.

Recognize the influence of global trends on Canadian HR policies and practices.

Learn the sources of information for HR professionals and their reliability.

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Definitions:

Interest-bearing Bonds

Debt securities that pay interest to holders, usually at fixed intervals, until the principal amount is repaid at maturity.

Interest Rates

Interest rates are the cost of borrowing money or the payment for offering credit, typically expressed as a percentage of the principal.

Money Supply

The full volume of financial resources in an economy at a particular point.

Wealth-effect

The phenomenon where consumers spend more as the value of their assets, such as property or stocks, increases.