Which of the following is a limitation on the formation of an S Corporation?

		All shareholders must contribute cash before the coropration is fully formed
		All shareholders must satisfy the requirements of Sec. 351
		All shareholders must unaminously agree on the business of the corporation
		There can be only one class of stock

Which of the following kinds of debt will yield at risk basis in a partnership?

		Non recourse debt
		Recourse debt
		Forgiven debt
		Trade debt

A trust is a legal entity separate from its grantor.

True

False

What is the maximum number of shareholders in an S Corporation?

		20
		150
		100
		50