Identify Which of the Following Statements Is True

Multiple Choice

Identify which of the following statements is true.

A) Shareholders who receive an installment obligation as part of their liquidating distribution ordinarily report the FMV of their obligation as part of the consideration received to calculate the amount of recognized gain or loss.
B) Upon liquidation, any capitalized expenditures unamortized at the time of liquidation should be deducted if they have no further value to the corporation.
C) A liquidating corporation treats expenses associated with selling its property as an offset against the sales proceeds.
D) All of the above are true.