1. Which of the following statements best describes the concept of control as it applies to a 351 transaction? A. Control is defined as the ownership of 80 percent or more of a corporation's voting stock. B. Control is defined as the ownership of 80 percent or more of the fair market value of a corporation's stock. C. 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. D. Control is defined as the ownership of 80 percent or more of a corporation's voting stock and 80 percent or more of the total number of shares of each class of nonvoting stock