Which Statement Is False

question 146

Multiple Choice

Which statement is false?

• A) S corporation status provides many of the benefits of partnership treatment.
• B) S corporation shareholders have limited liability.
• C) Distributions of appreciated assets are not taxable in an S corporation.
• D) The personal holding company tax does not apply to an S corporation.
• E) None of the above.

---

Definitions:

Expressed Genetic Traits

Observable characteristics or phenotypes of an organism that result from the interaction of its genetic makeup with the environment.

Genotype

Particular genetic makeup of an individual.

Phenotype

The set of observable characteristics of an individual resulting from the interaction of its genotype with the environment.

Receptor

A specialized cell or group of nerve endings that responds to specific sensory stimuli like heat, light, or touch.