Harry and Ilene Want to Market a New Line of Kayaks
Harry and Ilene want to market a new line of kayaks and related gear under the brand name Journeys as a corporation-Journeys Inc. To avoid income taxes at the corporate level, they should form
A) an alien corporation.
B) a close corporation.
C) an S corporation.
D) a private corporation.
The abbreviation "P.A." in the name "Conrad & Drake, Accountants, P.A." means that this organization is
A) a private association.
B) a professional association.
C) a public association.
D) a publicly administered corporation.
Pro Audio, Inc., would like to change its corporate status to that of an S corporation. To qualify, Pro Audio must
A) be a domestic corporation.
B) have more than one hundred shareholders.
C) be a benefit corporation.
D) all of the choices.
Boutique Bodega Corporation would like to change its corporate status to that of an S corporation. To qualify, the shareholders must not be