4. Identify which of the following statements is true. A) An S corporation cannot own any stock of another corporation B) An S corporation cannot own 100% of the stock of another S corporation C) An S corporation that owns all of the stock of a Qualified Subchapter S Subsidiary (QSub) must report all the income, deductions, and losses of the subsidiary on its own tax return. D) All of the above are true. 5. Identify which of the following statements is true. A) Convertible debt issues might be considered "stock" for purposes of the Scorporation single class of stock requirement B) The Selection 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 corporation election D) All of the above are false