4.Which of the following is NOT required for a corporation to be classified as a small business corporation and be eligible to make an S corporation election in 2011? a.the corporation must have 100 or fewer shareholders b.the corporation must be a domestic corporation c.the corporation must have both common and preferred stock. d.the shareholders of the corporation must not be nonresident aliens e.all shareholders must be either individuals, estates, certain trusts, or financial institutions. 5.Which of the following items retains its characters when passed through to shareholders of an S corporation? a.wages paid b.accelerated depreciation c.net long-term capital gains d.advertising expense e.all of the above retain their character when passed through 6.Which of the following is true about S corporation? a.S corporations pay corporate taxes like other corporations b.S corporation pay the alternative minimum tax of all income c. S corporation cannot issue corporate stock d.The S corporation status may be elected by stockholders only for corporations that meet certain qualifications e.none of the above