the determination of whether an s corporation is required to file schedules l and m-1 is based on the corporation's gross receipts and total year-end assets value. which of the following is a correct statement of when these schedules are not required?

a) the corporation had receipts of less than $250,000, and the year end value was less than $250,000

b) the corporation had receipts of more than $250,000, and he year end assets value was less than $250,00

c) the corporation had receipts of less than $250,000, and the year end value was more than $250,000

d) the corporation had receipts of more than $250,000, and the year end value was more than $250,000