Identify Which of the Following Statements Is True

Identify which of the following statements is true.

A) A parent corporation cannot liquidate a subsidiary corporation (having but a single class of stock) and avoid recognizing its realized gain unless the parent corporation owns at least 80% of the subsidiary's stock.
B) The provisions permitting a tax- free liquidation of a subsidiary corporation apply to both corporate and noncorporate shareholders of the subsidiary.
C) The liquidation of a subsidiary corporation must be completed within one tax year to receive nonrecognition treatment.
D) All of the above are false.