Question: Which statement is incorrect about an S corporation? a. Nonresident alien cannot own S stock b. AA one-person LLC classified as a disregard entity can

Which statement is incorrect about an S corporation? a. Nonresident alien cannot own S stock b. AA one-person LLC classified as a disregard entity can be a shareholder c. A partnership can own S corporation stock d. An S corporation can be a partner in a partnership e. None of the above

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The status rule: We tend to have more confidence in information presented by someone who has a relatively high status and rank in society than by someone who hasnt.

The spatial rule: The closer spatial proximity we have to an event, the more importance we will attach to it.

The visual rule: If we observe an event with our own eyes, we will attach more weight to it than if someone else had described it to us.