Which of the Following Statements Best Describes a Section 338

Which of the following statements best describes a section 338 transaction?

A) A section 338 transaction is an election made by the seller to treat an asset acquisition as a stock acquisition.
B) A section 338 transaction is an election made by the seller to treat a stock acquisition as an asset acquisition.
C) A section 338 transaction is an election made by the buyer to treat an asset acquisition as a stock acquisition.
D) A section 338 transaction is an election made by the buyer to treat a stock acquisition as an asset acquisition.