Phillip and Dwight Have Sold Stock to Eight of Their

Multiple Choice

Phillip and Dwight have sold stock to eight of their friends and have enough money to expand the business and to open another store.During a shareholders' meeting,Phillip,Dwight,and the eight other shareholders unanimously agreed that it would be better to pass through the company's profits and losses like a partnership.All of the shareholders are individuals and United States citizens.The shareholders could vote to change the corporation into a(n)

A) S-corporation.
B) limited liability company.
C) alien corporation.
D) foreign corporation.