The S-corporation is:
A) a business composed of two or more owners who contribute the initial capital of the business and share in the profits and any losses.
B) a business that may have several general partners and several more limited partners who do not have unlimited liability.
C) a legal entity that must be chartered by the state in which it is headquartered, giving it the authority to enter into legal agreements with individuals and other corporations.
D) a special format that sets its limit to a hundred shareholders, although it can be created with just one shareholder.
E) an organizational form that can be limited to a single individual or several other owners or shareholders.
Correct Answer:
Verified
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