An S Corporation Can Have Both Voting and Nonvoting Common

question 103

True/False

An S corporation can have both voting and nonvoting common stock as long as the shares of stock have identical rights to share in the profits and assets of the corporation.

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Definitions:

Special Order

An order for goods or services that is made to a customer's specific requirements and specifications.

Receive Payments Window

The Receive Payments Window is a feature in accounting software where businesses record the collection of money from customers against their outstanding invoices.

Checking Account

A bank account that allows for both deposits and withdrawals, often used by individuals and businesses for day-to-day transactions.

Accounts Receivable

Money owed to a company by its customers or clients for goods or services delivered or used but not yet paid for.