Tax Drill $-$ Exceptions to General Rule

Indicate whether the following statements are "True" or "False" regarding the exceptions to the general rule of gain and loss recognition by a liquidating corporation.

a$.$ Losses are not recognized on certain liquidating distributions to related$-$party shareholders.

b$.$ A subsidiary corporation recognizes gains or losses on liquidating distributions to its parent corporation.

c$.$ Losses are not recognized on certain sales and liquidating distributions of property that were contributed to the corporation with a built$-$in loss shortly before the adoption of a plan of liquidation.

d$.$ A subsidiary corporation does recognize losses on liquidating distributions to its minority shareholders.