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​Maurice and Stanley Have Sold Stock to Eight of Their

Question 136

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​Maurice and Stanley 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, Maurice, Stanley, 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.

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