Identify Which of the Following Statements Is False.

Question 6
Multiple Choice

Identify which of the following statements is false. A) A taxable acquisition of the assets of a target corporation that is subsequently liquidated, results in a loss of the target corporation's tax attributes. B) A taxable acquisition of the assets of a target corporation, that is subsequently liquidated, results in the target corporation's shareholders recognizing gain or loss on the surrender of their target stock. C) An acquiring corporation in a tax-free or a taxable acquisition transaction does not recognize gain or loss when its stock is issued in exchange for property. D) An acquiring corporation in a taxable acquisition transaction must acquire all of the assets and liabilities of the target corporation.