Which Statement Is FALSE Regarding Financial Reorganizations

Multiple Choice

Which statement is FALSE regarding financial reorganizations?

A) The proposed reorganization should receive the approval of the corporation's shareholders before it is put into effect.
B) The new asset and liability valuations should be fair.
C) Subsequent to the financial reorganization, no disclosures are required in subsequent periods.
D) After the reorganization, the corporation must have a zero balance in the Retained Earnings account.