Which of the following is a false statement? A. Partnership income and loss allocations may be...
Which of the following is a false statement?
| A. |
Partnership income and loss allocations may be flexible (specially allocated). This is not true for S corporation allocations. |
|
| B. |
S Corporations have many restrictions that render the entity somewhat less desirable. |
|
| C. |
S Corporations may be headquartered in Canada or Mexico but not outside of North America. |
|
| D. |
All of the above are true statements. |
Homework Answers
Answer:- S Corporations may be headquartered in Canada or Mexico but not outside of North America.
Reason:- There is no such restriction for headquarter of a S corporations. However there is an ownership restriction that only american citizens can own S corporations.
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