Classify each of the following as "Yes" $($a tax consequence$)$ or $"$No$"($not a tax consequence$)$ regarding a shareholder of a corporation in the process of liquidation under the general rule of $331.$

a$.$ The basis of property received in a liquidation is the property's fair market value on the date of the distribution.

b$.$ The shareholder is treated as having sold his or her stock to the corporation being liquidated.

c$.$ The difference between the fair market value of the assets received from the corporation and the adjusted basis of the stock surrendered is the gain or loss recognized.

d$.$ The general rule under $331$ provides for dividend income treatment to the shareholder.

e$.$ The stock is a capital asset in the hands of the shareholder, and capital gain or loss results.