Which of the Following Will Render a Corporation Ineligible for S

question 93

Multiple Choice

Which of the following will render a corporation ineligible for S corporation status?
I.The corporation has 95 stockholders.
II.One of the stockholders is a citizen- resident of Canada.
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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:

Implementation

refers to the process of executing a plan, project, or method to completion.

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service.

Exporting

The act of sending goods or services produced in one country to another country for the purpose of selling them there.

Sexual Harassment

Unwanted or inappropriate sexual advances or remarks, often in the workplace, that create a hostile or intimidating environment.