Which of the following statements regarding S Corporations is not true? Shareholder's basis in their stock may not go below zero. Losses of an S Corporation are allocated to all of the shareholders of the S Corporation on a daily basis. The Accumulated Adjustments Account (AAA) is increased for the Tax-Exempt Interest Income received by the S Corporation. The balance in the Accumulated Adjustments Account (AAA) may go below zero (e. can be negative)