Multiple Choice
Which of the following statements is not true of an S-corporation?
A) It may have no more than 100 shareholders.
B) Shareholders must be U.S. citizens or residents.
C) Profits and losses must be allocated in proportion to shareholder interests.
D) Partnerships may be shareholders.
E) Shareholders may not deduct losses in an amount greater than their original investment.
Correct Answer:
Verified
Correct Answer:
Verified
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