Which of the following best describes a Subchapter S Corporation?

a. Two or more partners agree to share management and financial decision-making authority.

b. A large corporation (in excess of 100 shareholders) that elects to be taxed like a partnership.

c. A domestic corporation with less than 75 shareholders that elects to be taxed like a partnership.

d. A foreign corporation with less than 35 shareholders, composed of both common stock and preferred stock.