In order to for the Section 351 control requirement to be met, transferors must hold their stock for at least one month after receipt.

		a. True.
		b. False.

Property distributed by a corporation as a dividend is subject to a liability in excess of its basis. For purposes of determining gain on the distribution, the basis of the property is treated as being not less than the amount of liability.

		a. true.
		b. false.