2. CPA QUESTION: Assuming all other requirements are met, a corporation may elect to be treated...

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2. CPA QUESTION: Assuming all other requirements are met, a corporation may elect to be treated as an S corporation under the Internal Revenue Code if it has: (a) Both common and preferred stockholders (b) A partnership as a stockholder (c) One hundred or fewer stockholders (d) The consent of a majority of the stockholders Strategy: Review the list of requirements for an S corporation. (See the "Result" at the end of this section.)