The ACB of the share consideration received by the seller in an ITA 85 rollover is always equal to the elected amount minus the FMV of any NSC with the excess always going to any common shares issued by the corporation. Question content area bottom Part 1 A. False because the excess of the total elected amount over the FMV of non-share consideration would first be allocated to preferred shares. B. True because the excess of the total elected amount over the FMV of non-share consideration is only allocated to common shares. C. False because the excess of the total elected amount over the FMV of non-share consideration is only allocated to preferred shares. D. True because the excess of the total elected amount over the FMV of non-share consideration is first allocated to common shares