Identify Which of the Following Statements Is True

question 87

Multiple Choice

Identify which of the following statements is true.

• A)The S corporation rules were enacted to allow small corporations to enjoy the nontax advantages of the corporate form of business without being subject to the tax disadvantage of double taxation.
• B)A partnership can elect to be taxed as a corporation under the check-the-box regulations. As a corporation, an S election can be made.
• C)For C corporations that desire to be taxed like a partnership, the S corporation rules provide a practical alternative for an existing C corporation to obtain many of the tax benefits of being taxed as a partnership.
• D)All of the above are true.

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Definitions:

Eros

In Freudian psychology, the life instinct innate in all humans that drives individuals to seek pleasure and create life.

Instinct

Involving an inherited disposition to activate specific behavior patterns that enable an organism to reach specific goals.

Preserve Life

The act or practice of maintaining or sustaining life, typically in the context of health and survival.

Conditions of Worth

Standards that one believes they must meet to be valued by others and themselves, often leading to contingency-based self-esteem.