S-1 A minimum of 15 incorporators is required. S-2 A close corporation can have a maximum of 20 members. a. Both of the assertions are correct. b. Both of the assertions are incorrect. c. One statement is correct, while the other is incorrect. is false

S-1 A minimum of 15 incorporators is required. S-2 A close corporation can have a maximum of 20 members. a. Both of the assertions are correct. b. Both of the assertions are incorrect. c. One statement is correct, while the other is incorrect. is false

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 2DQ

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Question

S-1 A minimum of 15 incorporators is required. S-2 A close corporation can have a maximum of 20 members.

a. Both of the assertions are correct.

b. Both of the assertions are incorrect.

c. One statement is correct, while the other is incorrect.

is false

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