31.Which of these corporations appears to be eligible to make an S corporation election?

A. Corporation I is a domestic corporation. There is only one class of stock with 75 shareholders who are all individuals living in the United States, all of whom are either United States citizens or resident aliens.

B. Corporation II is a domestic corporation using a calendar year tax year. 90% of the shareholders agree to the S corporation election.

C. Corporation III is a domestic corporation with one class of stock. There are three shareholders: two are individuals who are residents of the United States, the third shareholder is a partnership.

D. Corporation IV is not a domestic corporation, but all shareholders are United States citizens. There is one class of stock.

32.Each of the following are reported on page 1 of the S corporation's Form 1120-S EXCEPT:

A. Employment credits.

B. Gross receipts or sales.

C. Repairs and maintenance.

D. Employee benefit programs.

33.An S corporation's tax year ends November 30. When is the 2019 tax return due?

A. January 15, 2020

B. February 15, 2020

C. March 15, 2020

D. April 15, 2020