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9 of 15. All of the following are true of S Corporations EXCEPT: A nonresident alien cannot be an owner. An S corporation can have
9 of 15. All of the following are true of S Corporations EXCEPT: A nonresident alien cannot be an owner. An S corporation can have only one class of stock. S corporations do not have to use the accrual method of accounting unless they have inventory. The number of shareholders is limited. Mark for follow up
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Cpa Financial Accounting Examination Preparation Guide
Authors: Azhar Ul Haque Sario
1st Edition
979-8223666547
