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Which of the following statements about S Corporations is true? 1. S corporation status is automatic if there are fewer than 100 shareholders. 2. S

Which of the following statements about S Corporations is true? 1. S corporation status is automatic if there are fewer than 100 shareholders. 2. S corporations may have non-resident aliens as shareholders. 3. S corporations are prohibited from having more than one class of stock. 4. S corporations are prohibited from earning passive income

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