Question: The corporate veil is most likely to be pierced and the shareholders held personally liable if a. The corporation has elected S corporation status under

The corporate veil is most likely to be pierced and the shareholders held personally liable if

a. The corporation has elected S corporation status under the Internal Revenue Code.

b. The shareholders have commingled their personal funds with those of the corporation.

c. An ultra vires act has been committed.

d. A partnership incorporates its business solely to limit the liability of its partners.

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