Select the correct one and explain why

A court is most likely to pierce the corporate veil and hold its shareholders personally liable if

a) A sole proprietor incorporates his or her business solely to limit his or her personal liability.

b) A corporation has elected under Chapter S of the IRC not to pay any corporate tax on its income.

c) The shareholders have commingled their personal funds with those of the corporation.

d) The shareholders are also corporate officers, directors or employees.

e) Two of the above are correct