XYZ, Inc Wishes to Make an Election to Become an S

XYZ, Inc. wishes to make an election to become an S corporation for federal tax purposes. Which of the following statements regarding the election is false?

A) All of the corporation's shareholders must consent to make an S election.
B) If a shareholder in an S corporation sells his shares of stock to a nonresident alien, the election will terminate.
C) If an S corporation loses its election, the shareholders cannot make a new election for five years without IRS consent.
D) All of the shareholders must consent to voluntarily terminating an S election.