Which of the following statements regarding an S-corporation is true? Select one: a. It must pay a higher rate of taxes than other types of corporations. b. It cannot have more than 100 stockholders. c. It must be publicly-held. d. It must have more than 100 shares of outstanding stock.

Which of the following statements regarding an S-corporation is true? Select one: a. It must pay a higher rate of taxes than other types of corporations. b. It cannot have more than 100 stockholders. c. It must be publicly-held. d. It must have more than 100 shares of outstanding stock.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following statements regarding an S-corporation
true?
Select one:
a. It must pay a higher rate of taxes than other types of corporations.
b. It cannot have more than 100 stockholders.
c. It must be publicly-held.
d. It must have more than 100 shares of outstanding stock.

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