Indicate whether the following statements are "True" or "False" regarding partial liquidations.a$.$ To qualify as a partial liquidation, the distribution must result in a genuine contraction of the business of the corporation.Trueb. A safe$-$harbor rule, the termination of a business test, will satisfy the not essentially equivalent to a dividend requirement.Truec. A partial liquidation is a distribution that $(1)$ is equivalent to a dividend and $(2)$ is both pursuant to a plan and made within the plan year or within the succeeding taxable year.False