Identify Which of the Following Statements Is True

question 62

Multiple Choice

Identify which of the following statements is true.

• A)Shareholders who acquire stock in an S corporation after the election date and prior to the election's effective date must consent to the election.
• B)S corporation consent by shareholders is binding on the current tax year and all future tax years.
• C)Only shareholders who own stock on the date an S election takes effect must consent to the election.
• D)All of the above are false.

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Definitions:

Autonomous State Theory

The theory that the state maintains its own interests and autonomy, operating independently from economic elites and societal classes.

Administrative Organization

The systematic arrangement and coordination of people, tasks, and resources in a company or institution to achieve its goals efficiently.

Executive Order

A directive issued by a head of state or government, having the force of law, without requiring legislative approval.

Discrimination Ban

Prohibitions or legal measures against unfair treatment of people based on their race, age, gender, or other characteristics.