Question $6(1$ point$)$

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Control: which of the following statements best describes the concept of control as it applies to the rules that we have covered in Ch $12?$

Control is defined as the ownership of $80$ percent or more of a corporation's voting stock.

Control is defined as the ownership of $80$ percent or more of the fair market value of a corporation's stock.

Control is defined as the ownership of $80$ percent or more of a corporation's voting stock and $80$ percent or more of the fair market value of a corporation's stock.

Control is defined as the ownership of $80$ percent or more of a corporation's voting stock and $80$ percent $$ more of the total number of shares of each class of nonvoting stock.

Question $7(1$ point$)$

Boot: which of the following statements best describes the impact of receiving boot