Which statement is correct with respect to filing an S election? a. Form 2553 must be filed. b. All shareholders must consent. c. The election may be filed in the previous year. d. An extension of time is available for filing Form 2553. e. All of the above statements are correct

Which statement is correct with respect to filing an S election? a. Form 2553 must be filed. b. All shareholders must consent. c. The election may be filed in the previous year. d. An extension of time is available for filing Form 2553. e. All of the above statements are correct

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which statement is correct with respect to filing an S election?

	a.	Form 2553 must be filed.
	b.	All shareholders must consent.
	c.	The election may be filed in the previous year.
	d.	An extension of time is available for filing Form 2553.
	e.	All of the above statements are correct.

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