15. Which of the following statements is true?

Multiple Choice

A. All stock redemptions are treated as exchanges for tax purposes.

B. A stock redemption NOT treated as an exchange will automatically be treated as a taxable dividend.

C. All stock redemptions are treated as dividends if received by an individual.

D. A stock redemption is treated as an exchange only if it meets one of 3 stock ownership tests described in the Internal Revenue Code.