Which of the Following,if Any,incorrectly Characterize the Check-The-Box Regulations

question 153

Multiple Choice

Which of the following,if any,incorrectly characterize the check-the-box Regulations?

• A)A one-owner business is a sole proprietorship if default (no election is made)occurs.
• B)A one-owner business can elect to be taxed as a corporation.
• C)If default (no election is made)occurs,a limited liability company is taxed as a partnership.
• D)The check-the-box Regulations can apply to entities that are already incorporated under state law.
• E)None of these.

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Definitions:

Calcium

A chemical element, symbol Ca, essential for living organisms, particularly in cell physiology and bone formation.

Humerus

The humerus is the long bone in the upper arm, extending from the shoulder to the elbow.

Tibia

A large bone located in the lower leg, between the knee and the ankle, parallel to the fibula.

Ulna

One of the two long bones in the forearm, located on the side opposite the thumb and running parallel to the radius.