Question
Jed is a shareholder of RSD Bananas, Inc. (RSD). A court might hold Jed personally liable for RSDs debts if a. Jeds personal interests are
Jed is a shareholder of RSD Bananas, Inc. (RSD). A court might hold Jed personally liable for RSDs debts if
| a. Jeds personal interests are commingled with RSDs interests to the extent that RSD has no separate identity. |
| b. RSD calls more than the required number of shareholders meetings. |
| c. RSD is overcapitalized. |
| d. All of these options are correct. |
RSD Bananas, Inc., is a private, for-profit corporation that was formed for the purpose of manufacturing and distributing a newly patented kitchen appliance. In order to file for S corporation status, RSD must not
| a. have more than 50 shareholders. |
| b. be a domestic corporation. |
| c. have more than one class of stock. |
| d. none of the above |
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