Which of the following is True or False?

_______ a. A transferor of property to a Corporation may elect Section 351 to avoid recognition of gain or loss.

_______ b. A transferor of property to a Corporation may elect Section 351 to avoid recognition of gain or loss only if the shareholder acquires requisite control of the Corporation.

_______ c. If A transfers property to Corp. X basis $10 Fair Market Value (FMV) $100 in exchange for stock representing 51% of the issued and outstanding shares, A recognizes $90 of gain.

_______ d. In c above, the basis of the stock received by A is $100

_______ e. In c above, the Corporations basis in the property received is $10