Under what circumstances is a corporation's assumption of liabilities considered boot in a Sec. 351 exchange? (Select all that apply.) A. If the total amount of liabilities transferred to a controlled corporation exceeds the total adjusted basis of all property transferred by the transferor, the excess liability amount is treated as a gain taxable to the transferor without regard to whether the transferor had actually realized gain or loss. B. If the total adjusted basis of all property transferred by the transferor exceeds the total amount of liabilities transferred to a controlled corporation, the excess basis amount is treated as a gain taxable to the transferor without regard to whether the transferor had actually realized gain or loss. c. All liabilities assumed by a controlled corpation are considered boot if the principal purpose of the transfer of any portion of such liabilities is tax avoidance or if no bona fide business purpose exists for the transfer. D. Al labilities assumed by a controlled corporation are considered boot if the principal purpose of the transfer of any portion of such liabilities is tax avoidance or if a bona fide business purpose exists for the transfer