When Shares Are Transferred from One Group of Shareholders to Another

When shares are transferred from one group of shareholders to another and there is a change in control, which of the following is correct?

A) Net-capital losses that arise following the change in control are automatically deemed to have expired.
B) Non-capital business losses arising prior to the change in control may be used against income from the business that incurred the loss if that business is carried on at a profit, or reasonable expectation of profit, in the year in which the losses are
Applied.
C) Non-capital losses arising prior to the change in control are automatically deemed to have expired.
D) Net-capital losses arising prior to the change in control may be used against income from the business that incurred the loss if that business is carried on at a profit, or reasonable expectation of profit, in the year in which the losses are applied.