Which of the Following Will Render a Corporation Ineligible for S

question 60

Multiple Choice

Which of the following will render a corporation ineligible for S corporation status?
I.The corporation has 125 stockholders.
II.One of the stockholders is another corporation.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Marriage

A legally and socially sanctioned union between individuals that establishes rights and obligations between them and their children, and in-laws.

Fatherhood

The state or responsibility of being a father, including the duties, challenges, and emotional aspects of raising and caring for children.

Homeownership

The state or condition of owning a house or residence.

Employment

The state of having a paid job or occupation, including full-time, part-time, and freelance positions.