Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) Aspect Corporation transfers assets to newly created Expert Corporation in exchange for all of Expert's stock. Shortly after the transfer, Aspect exchanges one- half of the Expert stock that it receives for land. The individuals transferring the land have never been Aspect shareholders. This transaction qualifies as a divisive Type D reorganization and is tax- free to all parties.
B) The control requirement for Sec. 355 differs from the control requirement under Sec. 351.
C) Common stock can be exchanged for preferred stock in the same corporation as a Type E reorganization.
D) All of the above are false.