Identify Which of the Following Statements Is True

question 69

Multiple Choice

Identify which of the following statements is true.

• A)A partnership can be an S corporation shareholder.
• B)A nonresident alien can be an S corporation shareholder.
• C)An S corporation can have more than 100 shareholders, since families are treated as a single shareholder.
• D)All of the above are false.

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Definitions:

Article 3

Refers to a segment or section within a larger document, such as a constitution or statute, that addresses a specific topic.

UCC

The Uniform Commercial Code is an extensive collection of regulations that oversee every commercial transaction across the United States.

Electronic Negotiable Instruments

Financial instruments that are signed electronically and promise to pay a certain sum of money to the bearer or assigned party.

Money Order

A type of draft that may be purchased from banks, post offices, telegraph companies, and express companies as a substitute for a check.