Question 11 5 pts Sam owns four separate activities. He elects not to group them together as a single activity under the "appropriate economic unit" standard. Sam participates for 101 hours as a hunting guide (Activity A), 165 hours in the ice cream shop (Activity B), 240 hours in a dairy farm (Activity C), and 100 hours as a gunsmith (Activity D). He has one employee, who works 105 hours in Activity D. Which of the following statements is correct? Activities A, B, C, and D are all significant participation activities. O Sam is a material participant with respect to activities A, B, C, and D. O Activities A, B and C are all significant participation activities. Losses from all of the activities can be used to offset Sam's active income. O Sam is not a material participant with respect to Activities A, B, C, and D.