A C Corporation Can Become a Subchapter S Corporation by Filing

question 117

True/False

A C corporation can become a Subchapter S corporation by filing a statement with its corporate income tax return.

---

Definitions:

Transcription

The process of copying a segment of DNA into RNA by the enzyme RNA polymerase.

Eukaryotes

Eukaryotes are organisms whose cells have a nucleus enclosed within a nuclear envelope, distinguishing them from prokaryotes.

Prokaryotes

Prokaryotes are unicellular organisms characterized by the absence of a nucleus or any other membrane-bound organelles, including bacteria and archaea.

Cytoplasm

The jelly-like substance within a cell enclosed by the cell membrane, containing all organelles and cell parts.