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Which of the following is correct regarding an S corporation? A. It can have no more than one hundred (100) shareholders. B. Only foreign corporations

Which of the following is correct regarding an S corporation?

A. It can have no more than one hundred (100) shareholders.

B. Only foreign corporations with more than ten (10) shareholders can be an S corporation.

C. It is taxed at the corporate level.

. It must be a member of an affiliated group of corporations.

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