SIE practice questionmediumAccount Types
A corporation wants to open a trading account for investment purposes. Which account type should it use?
- AUGMA account
- BIndividual account
- CCorporate account✓ Correct answer
- DIRA account
Explanation
Why C — Corporate account
A corporation must use a corporate account, which is opened with the corporate resolution. Individual, UGMA, and IRA accounts are not for corporate use.
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