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.

Analyze how reward systems are adapted for high power distance cultures and diverse workforces.

Explain the significance of ethical goals in the workplace and the potential for unethical outcomes.

Discuss the effects of job satisfaction, performance, and organizational loyalty due to goal setting and reward systems.

Understand the components and roles within comprehensive HR practices that influence organizational learning.

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Definitions:

Net Social Gain

The overall benefit to society, measuring the difference between total benefits and total costs when any action or policy is implemented.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, leading to a lack of competition.

Net Social Gain

The total benefit to society after subtracting the costs associated with an economic activity or policy.