Identify Which of the Following Statements Is True

Multiple Choice

Identify which of the following statements is true.

A) Convertible debt issues might be considered "stock" for purposes of the S corporation single class of stock requirement.
B) The S election must be made no later than the fifteenth day of the fourth month of the tax year for which the election is to be effective.
C) A majority of shareholders must consent to the S corporation election.
D) All of the above are false.