When There Is an Acquisition of Control of a Corporation

When there is an acquisition of control of a corporation, which of the following is correct?

A) A capital loss arising prior to the acquisition of control may be applied against capital gains realized by the business that incurred the capital loss on assets that were held prior to the acquisition of control.
B) Any capital losses that arise subsequent to the acquisition of control will be lost.
C) Non-capital losses arising prior to the acquisition of control may be applied against income earned by the business that incurred the loss as long as the loss has not expired.
D) Non-capital losses and capital losses arising prior to the acquisition of control will beloit.