Which of the following is not one of the standards that a business must meet to qualify for status as a subchapter S corporation?
A) The business must be a subsidiary of another corporation.
B) All shareholders must agree to have the corporation formed as a subchapter S corporation.
C) It can have no more than 100 members (husbands and wives count as one member).
D) It can have only one class of stock issued and outstanding.
E) The shareholders must be U.S. citizens.
Question 2
Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.
A) focal
B) objective
C) target
D) critical
E) intention
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