Which Statement Is Incorrect with Respect to an S Shareholder's

question 44

Multiple Choice

Which statement is incorrect with respect to an S shareholder's consent?

• A)A consent extension is available only if Form 2553 is filed on a timely basis, reasonable cause is given, and the interests of the government are not jeopardized.
• B)Both husband and wife must consent if one owns the stock as community property.
• C)An S election requires a consent from all of the S corporation's shareholders.
• D)A consent must be in writing.
• E)None of the above statements is incorrect.

Explore inventory management concepts relevant to financial management, including EOQ and carrying costs.

Calculate the operating cycle of a business.

Understand and calculate the cost related to revolving credit agreements.

Evaluate the cost of forgoing prompt payment discounts.

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Definitions

Clarifications or explanations of words or terms to specify their meaning within a particular context.