Four Unrelated Individuals Acquire Assets on Behalf of Jump Corporation

question 141

Multiple Choice

Four unrelated individuals acquire assets on behalf of Jump Corporation on May 21, 2012, purchased assets on June 5, 2012, and begin doing business on June 15, 2012.They subscribe to shares of stock, file articles of incorporation for Jump, and become shareholders on July 23, 2012.The S election must be filed no later than 2 1/2 months after:

• A)May 21, 2012.
• B)June 5, 2012.
• C)June 15, 2012.
• D)July 23, 2012.
• E)December 31, 2012.

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Definitions:

Annul

To declare invalid an existing law, decree, decision, or marriage, making it as though it never existed.

Catherine of Aragon

The first wife of Henry VIII of England and queen consort from 1509 to 1533, best known for her marriage's role in the start of the English Reformation.

Ignatius Loyola

Founder of the Society of Jesus (Jesuits), which was a significant force in the Counter-Reformation.

Catholic Reformation

A period of Catholic revival beginning in the late 16th century, in response to the Protestant Reformation, aiming to reform and renew the Roman Catholic Church.