To qualify for Subchapter S treatment under the Internal Revenue Code, a domestic corporation must have ________
A) membership in an affiliated group of corporations
B) more than 35 shareholders
C) only one class of stock outstanding
D) at least one nonresident alien shareholder
C
Business
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Which of the following is the act of awarding funds or gifts to charities?
A) Ethical compliance B) Political action C) Lobbying D) Informal dimensions of giving E) Philanthropic giving
Business
The composite depreciation method
a. is applied to a group of homogeneous assets. b. is an accelerated method of depreciation. c. does not recognize gain or loss on the retirement of specific assets in the group. d. excludes salvage value from the base of the depreciation calculation.
Business