Which of the Following Is a Requirement to Be an S

question 78

Multiple Choice

Which of the following is a requirement to be an S corporation?

• A) be a domestic or foreign corporation.
• B) have only one class of stock.
• C) have fewer than 75 shareholders.
• D)have at least one corporate shareholder.
• E)None of these

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Definitions:

Bile

A digestive fluid produced by the liver and stored in the gallbladder, it aids in the digestion and absorption of fats in the small intestine.

Pharynx

The muscular tube that connects the mouth and nasal passages with the esophagus and larynx, serving both respiratory and digestive functions.

Parietal Cell

A type of cell in the stomach lining that produces hydrochloric acid and intrinsic factor, essential for digestion and absorption of vitamin B12.