A Close Corporation Can Operate as an S Corporation

question 32

True/False

A close corporation can operate as an S corporation.

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Definitions:

Ethics

The study of moral principles that govern an individual's behavior or conducting of an activity.

Social Egalitarian

Advocating for social equality and a belief in the equitable distribution of wealth and opportunities among all people.

Libertarian

describes a political philosophy that emphasizes freedom, autonomy, and voluntary association, with a significant emphasis on individual rights and minimal state intervention.

Unjust

Unjust refers to something that is not based on or behaving according to what is morally right and fair.