Sandra and Renee each own 50% of the stock of Olive, an S corporation. They acquired their stock four years ago when Olive was formed. They have decided to dispose of their ownership interests in the corporation, and a substantial gain will result. Sandra thinks they should sell their stock, whereas Renee thinks they should first liquidate the corporation and then sell the assets.

Select either "Yes" or "No" to identify the consequences of each approach.

a.	The classification of the sale is impacted depending on the type of sale.
b.	If Olive sells the assets, the gain is taxed to Olive as a long-term capital gain.
c.	Whether selling Olive stock or liquidating, Sandra and Renee will recognize the same amount of gain.
d.	The stock sale is more complex and costly to carry out than an a liquidation.