Which of the Following Facts Would Prevent an S Corporation

question 66

Multiple Choice

Which of the following facts would prevent an S Corporation election?
I.Magnificent Corporation has 125 shareholders.
II.Simms Corporation, incorporated in Kansas, has only one class of common stock issued and outstanding.
​

• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

---

Definitions:

Retail

The sale of goods or services directly to consumers for personal use.

Retailer Cooperatives

Groups of independent retailers who combine their purchasing power to negotiate better prices from suppliers and improve competitiveness.

Category Management

A merchandising technique that focuses on the performance of a product category rather than individual brands.

Planned Shopping Center

A group of architecturally unique business establishments on a site that is centrally owned or managed.