Mr. Germotte has two offers to purchase his solely owned corporation, one for the assets, one for the shares.In considering the asset offer, which of the following statements is correct?

A: The sale of assets will avoid having to take the corporation through a winding-up procedure

B: Mr. Germotte can take advantage of the lifetime capital gains deduction if the corporation is a qualified small business corporation

C: Mr. Germotte may be subject to taxes on business income and capital gains

D: The corporation may be subject to taxes on business income and capital gains