Please answer the 1-4 multiple choice questions:

Textbook: Federal Income Taxation of Corporations and Shareholders, 7th Edition

Course: Taxation of Reorganizations & Liquidations

Part 3. Liquidations 1. In a complete liquidation, the shareholder: A.__ Does not recognize gain or loss. B._Recognizes gain but not loss. Recognizes both gain and loss. Recognizes loss but not gain 2. A complete liquidation occurs only when: A formal plan of liquidation is adopted. B. When a company ceases all activities. C.__ A company legally dissolves D. _ A company ceases to be a going concern and winds up its affairs. A complete liquidation can not occur when: A formal plan of liquidation is adopted. B._When a company ceases all activities. C.__ A company legally dissolves D. A company ceases to be a going concern while retaining substantial assets. 4. In a complete liquidation where a shareholder has different blocks of stock in terms of cost basis, the shareholder: A._ Computes gain or loss together on all the stock. B. _ Computes gain only separately on each block of stock. Computes loss only separately on each block of stock D. _Always.computes gain or loss on a block by block method