Factors That Should Be Considered in Making the S Corporation

question 162

Multiple Choice

Factors that should be considered in making the S corporation election for the current tax year include the following:

• A) Are greater than 50% of the shareholders willing to consent to the election?
• B) Can the requirements for qualification be satisfied by the 15th day of the third month of the tax year and also for the period of the tax year that precedes this date?
• C) Will the corporation have total capital not in excess of $1 million?
• D) Only b. and c.
• E) a., b., and c.

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Definitions:

Dynamically Linked List

A data structure consisting of nodes linked together in a sequence, where each node contains data and a pointer to the next node, allowing for efficient insertion and deletion.

Deleting a Structure

Refers to removing or deallocating a structured data type from memory, often done to free up resources.

Dynamic Memory Allocation

The process of allocating memory during the runtime of a program, allowing for flexible use of memory resources.

Run-Time Allocation

The process of allocating memory during the execution of a program, typically using functions like malloc() in C.