In a type C reorganization, distribution of a retained asset with a built$-$In gain will cause:

A $$ Only the transferor corporation to recognize gain.

B $$ Only the transferor corporation's shareholder to recognize gain.

C $$ Both the transferor corporation and its shareholder to recognize gain.

D $$ Nelther the transferor corporation or its shareholder to recognize gain.

$18.$ In a type C reorganization, distribution of a retained asset with a built$-$in loss will cause:

A $$ Only the transferor corporation to recognize loss.

B $$ Only the transferor corporation's shareholder to recognize loss.

C $$ Both the transferor corporation and its shareholder to recognize loss.

D $$ The transferor corporation's shareholder to recognize gain.

$19.$ In a transaction qualifying as a type C reorganization:

A $$ The acquiring corporation's assuming debt of the transferor will always constitute "boot" to the transferor.

B $$ The acquiring corporation's assuming debt of the transferor will never constitute "boot" to the transferor.

C $$ The acquiring corporation's assuming debt of the transferor will sometimes constitute "boot" to the transferor.

D $$ Vone of the above.

$20.$ In a type C reorganization, if the acquiring corporation exchanges property other than its stock or debt for the transferor's assets:

A $$ The transferee corporation may recognize gain only.

B $$ The transferee corporation may recognize loss only.

c $$ The transferee corporation may recognize either gain or loss.

D $$ The transferee corporation recognizes neither gain or loss.