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Lobster Pot Corp, a domestic corporation, made a valid Subchapter S election several years ago....

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Accounting

Lobster Pot Corp, a domestic corporation, made a valid Subchapter S election several years ago. For each circumstance given, select "Yes" if the circumstance will terminate Lobster Pots S-corp status; select No if the circumstance will not terminate Lobster Pots S status. Group of answer choices

The number of Lobster shareholders has grown to 101. All of the shareholders are unrelated except that two of them are husband and wife. [ Yes or No]

The number of Lobster shareholders had grown to 101. All of the shareholders unrelated, except for Arnold and Brenda, who are parent and child. [ Yes or No]

One of Lobsters shareholders is Igor, a U.S. citizen living in Idaho. While on vacation in Sweden, Igor met a Swedish citizen named Olga. Olga convinced Igor to move to Sweden to be near her. Igor did so and now lives full time in Sweden. [ Yes or No]

One of Lobsters shareholders is Igor, a U.S. citizen living in Idaho. While on vacation in Sweden, Igor met a Swedish citizen named Olga. Olga convinced Igor to move to Sweden to be near her. Igor did so and now lives full time in Sweden. In addition, Olga convinced Igor to give her some of his shares in Lobster. [ Yes or No]

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