Question 1: The partner at KPMG has informed that you are working on an Acquisition of Control file. The partner wants to know if any assets have to realize a loss. The Corporation has 2 assets, inventory with a cost of $40,000 and FMV of $30,000 and land with an ACB of $100,000 and FMV of $50,000. You determine for the partner that the losses that will arise due to the Acquisition of Control are the following: A. Business loss of $10,000 on the inventory and a net capital loss of $25,000 on the land B. No effects of the inventory and a net capital loss $25,000 on the land C. Business loss of $10,000 on the inventory and no effects on the land D. Nothing will happen unless you choose to elect to recognize the losses E. None of the above